City Of Oakland Passes Offer Sheet To Fund New Oakland Raiders Stadium

Maybe the Oakland Raiders won’t be moving to Las Vegas after all.

On Tuesday, the Oakland City Council and Alameda Country Board of Supervisors both voted to approve the outline of a plan for the Raiders’ new stadium, according to Deadspin. The deal would require the city of Oakland to pay $200 million and surrender a $150 million plot of land to build the stadium on.

The vote, however, does not guarantee that a stadium will be built, just that a $1.3 billion offer sheet was approved. The rest of the deal will be paid for with $400 million from a Ronnie Lott-led investment group and $500 million from the Raiders and the NFL.

Former Raiders running back Marcus Allen, as well as Rodney Peete spoke at the meeting on behalf of the Ronnie Lott group, stating the importance the Raiders hold to the community and its fans.

While the vote passed, the Raiders’ move to Las Vegas still seems imminent. Owner Mark Davis might just be using the city of Oakland to apply pressure in negotiations with casino mogul Sheldon Adelson, who he has had difficulty striking a deal with for a Las Vegas stadium.

It seems the Raiders will have a new home sooner or later, all that’s left to decide is who’s going to foot the bill.

Thumbnail image via Mark J. Rebilas/USA TODAY Sports

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