The Raiders are officially back in Oakland for the 2016 season. The team announced a one year lease extension with O.co Coliseum on Thursday afternoon in a joint press conference with the Coliseum Joint Powers Authority.
There are also two, one-year options in 2017 and 2018.
This move has been long expected, especially after the Raiders withdrew from a possible Los Angeles relocation plan for the 2016 season.
CSNCalifornia.com reported several weeks ago that the Raiders and the JPA were working on a short-term lease extension, and it was just a matter of time before one got done.
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This short-term lease extension give the Raiders maximum flexibility while they search for a long-term stadium solution.
Owner Mark Davis hopes to find one in the East Bay, though he has grown increasingly frustrated with the tenor of talks between his team and the city of Oakland.
The Raiders have also explored options in other markets, including San Antonio and Las Vegas. Davis toured a proposed stadium site in Las Vegas late last month, and has been flirting with San Antonio for roughly a year now.
The Raiders have already been approved to relocate to the Los Angeles market as part of Rams owner Stan Kroenke's Inglewood development project if the Chargers stay in San Diego and do not exercise their LA option. The Chargers have a higher priority than the Raiders when it comes to Los Angeles.
Should the Chargers move to L.A., several sources have indicated over the last month that the Raiders would take a long look at possible relocation to San Diego. The Raiders have made it known that they have options, and staying in Oakland in the short-term gives them an opportunity to explore them over the next calendar year.