Oakland mayor advances 'framework' plan to keep Raiders

Oakland mayor advances 'framework' plan to keep Raiders”

Per NBC Bay Area, the mayor's office has confirmed a framework deal has been reached to keep the franchise in Oakland with a group led by ex-NFL player Ronnie Lott.

The station said it received word Oakland City Council and the Alameda County Commission would be meeting through the next week to discuss the proposal. The Lott group, she said, has the upfront capital to fund a new stadium.

The city of Oakland has reached a framework deal to keep the NFL's Raiders in town. Raiders owner Mark Davis has pledged only $500 million toward construction of a new stadium but has estimated the construction cost to exceed $1 billion.

Davis has said the Raiders will play the next two seasons in Oakland even if the Vegas relocation were approved. Either eight or more of the remaining 31 National Football League owners can withhold approval for Davis to move, or his stadium financing plan ($750 million from the state, already earmarked, $650 million from casino owner Sheldon Adelson, who is sounding hinky about the deal, and $500 million from Davis, the National Football League and other sources) collapses.

Of course, if Oakland can't produce a live option by the time the vote comes, none of those questions will mean much.

The Raiders have long contended it's not feasible for the current Coliseum to be in use while a new Raiders stadium is being built. Schaaf did not disclose whether the deal would involve the developer continuing to lease the land from the city or county or would be purchased outright, but said that the exchange would involve a fair market price for the property.

"It's a team-centered approach but one that protects the public dollar".

Since Schaaf remains firmly against providing any public money beyond infrastructure investments in roads and other upgrades in the area, where is the money coming from to build on the Coliseum site?

Schaaf said she planned to meet with other West Coast mayors soon to coordinate their efforts. The Oakland City Council will have its closed session next Tuesday with a possible vote at a public meeting on December 13. However, exactly when the owners might take up the issue remains unclear. She said they are working with a group that actually has the ability to write a check.

In a letter to Oakland Unified School District staff, Wilson says he will be leaving in February. Sources say the Fortress people know that this problem exists, but the matter of how they resolve it is yet one more gear that needs to be oiled.

Watch Mayor Schaaf's full interview in the video box above.

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