Las Vegas Raiders mull tapping Wynn Resorts CEO to run the team: source

0
47

[ad_1]

The Las Vegas Raiders are weighing the idea of hiring Matt Maddox — the outgoing chief executive of Wynn Resorts — to be president of the NFL team, a source close with the situation told On The Money.

Maddox in November said he will resign as CEO of Wynn Resorts effective Jan. 31, with Wynn officials explaining that Maddox was looking to land a gig outside the gambling industry, where he has spent most of his career.

The news surprised some Vegas insiders, who noted that 46-year-old Maddox, who succeeded Wynn’s billionaire founder Steve Wynn after the latter became ensnared in sex-harassment allegations, was most recently pulling down $24.5 million in annual compensation at Wynn.

Meanwhile, when it comes to the Raiders, Marc Badain resigned as the team’s president in July. Owner Mark Davis reportedly pushed him out, along with the chief financial officer and controller, after discovering financial irregularities. Davis named the team’s general counsel, Dan Ventrelle, as interim president.

Las Vegas Raiders team in a huddle
Maddox has declared his loyalty to the city of Las Vegas, making a possible move to the Raiders seem more natural.
Getty Images

It has been a bumpy year for the franchise, with Raiders coach Jon Gruden resigning in October after multiple media reports said he used anti-gay and racist language in his e-mails. Gruden was in the third year of a 10-year, $100 million contract.

Maddox has a track record of cleaning up Vegas messes. He was Steve Wynn’s right-hand man for years when in 2018 he replaced him as Wynn faced a slew of sexual misconduct charges including a rape allegation. Wynn maintains his innocence.

At the helm of Wynn, Maddox has been credited with keeping the casino giant a premier destination and with opening a Boston-area casino despite scrutiny from the Massachusetts gaming commission.

Matt Madox sitting at conference
Maddox’s casino job brought him a compensation package of $24.5 million.
AFP via Getty Images

A spokesman for Maddox said he does not comment on rumors.

Sources close to Maddox, noting his fat pay packages in recent years, say he does not need the money. Still, some insiders argue that the Raiders could offer him a high-profile chance to become an even higher-profile Las Vegas mogul.

In October 2020, Maddox wrote in an op-ed, “I have been deeply entrenched in the economy and culture of Las Vegas for almost two decades. This is not only a place I love and call home, this is a place that I understand.”

A Raiders spokesman did not return calls.

[ad_2]

Source link