Oakland Stadium Deal Gains Support

The Raiders are threatening to move to Las Vegas, but the city of Oakland intends to offer a land and infrastructure deal to convince the team to stay.
December 28, 2016, 2pm PST | Casey Brazeal | @northandclark
Share Tweet LinkedIn Email Comments
kropic1

The city of Oakland has agreed to term on a possible deal to give land and infrastructure to the Oakland Raiders organization for them to build a new stadium according to reporting from Filipa A. Ioannou and Rachel Swan for San Francisco Gate. "Under the plan, the city of Oakland and Alameda County would chip in 105 acres at the Coliseum site to the Fortress Investment Group and a development team helmed by former National Football League star Ronnie Lott to build a stadium and parking lot," Ioannou and Swan write.

This plan would give 350 million to the organization that has left Oakland once before. "The land is valued at about $150 million, and Oakland would allocate an additional $200 million for infrastructure, such as roads, landscaping, lighting and moving a major utility line," Ioannou and Swan report. Meanwhile Las Vegas has already offered "$1.9 billion — $750 million from an approved hotel tax, $650 million from casino billionaire Sheldon Adelson, and $500 million from the Raiders and the NFL," according to the story. Taxpayers are going to contribute a great deal to the $2.1 billion dollar organization, no matter which city ends up with the team.

Full Story:
Published on Wednesday, December 14, 2016 in San Francisco Gate
Share Tweet LinkedIn Email