County OKs talks on Raiders sta­dium

The Denver Post - - SPORTS - By Janie Har

oak­land, calif.» A late bid to keep the Oak­land Raiders from mov­ing took a step for­ward Tues­day af­ter Alameda County su­per­vi­sors ap­proved open­ing ne­go­ti­a­tions with an in­vest­ment group on a $1.3 bil­lion sta­dium project.

If the Oak­land City Coun­cil ap­proves as well, the city and county can start ne­go­ti­at­ing a for­mal agree­ment with pri­vate in­vestors for a sta­dium project that in­cludes $350 mil­lion in pub­lic money by way of land and fu­ture rev­enue. The City Coun­cil was sched­uled to con­sider the is­sue Tues­day night.

The push for a new sta­dium project is be­ing led by Hall of Famer Ron­nie Lott and for­mer quar­ter­back Rod­ney Peete, who are work­ing with Fortress In­vest­ment Group. Three of five county su­per­vi­sors voted yes af­ter more than three hours of dis­cus­sion and tes­ti­mony in a room sparkling with sports celebri­ties.

Lott said af­ter the vote that the work is just be­gin­ning.

“We still have a long ways to go. We still have to con­vince the NFL. We still have to con­vince (Raiders owner) Mark Davis. We’ve got a long ways to go, but to­day is a great day and a great mo­ment for Raider Na­tion,” he said.

Ear­lier this year, Mark Davis said he was com­mit­ted to mov­ing the Raiders to Las Ve­gas, where a $1.9 bil­lion sta­dium project has been ap­proved. Oak­land Mayor Libby Schaaf vowed to con­tinue work­ing on a counter-pro­posal for the Raiders to stay at the Oak­land Coli­seum.

A move to Ne­vada is not cer­tain, although a vote by the NFL on whether to al­low the move is pos­si­ble as soon as Jan­uary. Ne­vada will raise $750 mil­lion from a ho­tel tax to fund the sta­dium with bil­lion­aire casino mogul Shel­don Adel­son con­tribut­ing $650 mil­lion and the Raiders and NFL kick­ing in $500 mil­lion.

The Raiders must get ap­proval from 24 of 32 NFL own­ers to move. NFL own­ers will re­ceive an update on the sta­dium sit­u­a­tion when they meet near Dal­las on Wed­nes­day.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.