The Raiders do not have a formal, completed agreement to continue playing at Oakland Coliseum.
Negotiating parties, however, are getting awfully close to one.
Important terms already have been agreed upon, but there’s more left to be done. The expectation remains that a deal will get worked out soon to keep the Raiders in Oakland one more year (with an option for 2020) before relocating to Las Vegas. That has been the case for a while now, since talks between the Raiders and the Oakland Coliseum Authority ramped up again recently.
“We have had good, progressive talks that continue to move forward,” Authority chairman and executive director Scott McKibben said Monday. “…Talks are progressing toward what we hope will be a final and acceptable lease agreement.”
A deal could be completed soon, possibly in the next few days. If a formal pact is finalized, McKibben would call a special meeting of the Oakland Coliseum Authority board to vote on the lease agreement. That could happen late this week or next week, if progress continues and the lease is set to take to a vote.
The Oakland City Council and Alameda County Board of Supervisors must also approve the new lease, and would do so after the Authority board vote. NFL owners also must vote on the issue, likely at next month’s owner’s meetings. Resistance is not expected at any of those stages.
A new lease would allow the Raiders to play 2019 at Oakland Coliseum with an option for 2020, a provision that would be exercised in the unexpected event that the team’s new Las Vegas stadium isn’t ready to host NFL football that season.
The Raiders would pay $7.5 million in rent for the 2019 season, the exact sum discussed before the City of Oakland’s lawsuit against the Raiders and the NFL halted talks. The Silver and Black walked away from the table at that point, but returned after exploring several options including playing a season at Oracle Park in San Francisco.
The Authority never took their lease offer off the table, so the sides were able to resume talks with a number of issues already worked out.
The Raiders would pay $9.5 million to play at Oakland Coliseum in 2020, according to the San Francisco Chronicle. Again, the Silver and Black are expected to be in Las Vegas by then.