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As the Raiders‘ stadium search approaches a possible conclusion, Oakland is making a final stand to keep their football team. But, according to one NFL executive, it's too late.
Earlier this week, Oakland city and county officials approved the opening of negotiations with an investment group that wants to build a $1.3 billion stadium.
The group, heading by former 49er and Raider great Ronnie Lott, wants the development to occur on the same land that currently houses the Coliseum. The investment group would put in $400 million, the Raiders would contribute $500 million, and the city of Oakland would provide $150 million worth of land, as well as $200 million for infrastructure. Revenue from the new stadium and accompanying developments would help pay back the bonds taken out by the city.
But, despite the league's supposed commitment to keeping teams in their current marks, the NFL is apparently unimpressed.
(Continue article below)
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NFL executive Eric Grubman serves as the point person for the league's relocation issues. After reviewing the new proposal in Oakland, he drew comparisons to past deals that fell through.
He then made his feelings very clear: it's hard to imagine Oakland beating out the current proposal in Las Vegas.
From ESPN's Eric D. Williams:
“We’ve seen this movie before,” said Grubman…
“I don’t see Oakland as competing with Las Vegas,” Grubman said. “It’s simply a question of whether they can put a proposal together that is viable for a team. They already have a team.
“If they don’t put a proposal together, then what they would be expecting is for owners to vote down Las Vegas on the Las Vegas demerits, not Oakland’s merits. And that’s a different dynamic than if Oakland has a viable proposal on the table.”
In light of the agreement made in Oakland, Raiders owner Mark Davis is still committed to the $1.9 billion stadium proposal in Vegas. Similar to the plan mentioned above, the Raiders would contribute $500 million, with the rest covered by hotel taxes and investors.
