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Group led by Ronnie Lott, Rodney Peete hopes to develop new Oakland stadium

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Mike Florio explains why we will likely soon have more information about which owners support a possible move to Las Vegas and which owners oppose the idea.

With the Raiders closer and closer to moving to Las Vegas, the effort to keep the team in Oakland isn’t dead. Yet.

According to Phillip Matier and Andrew Ross of the San Francisco Chronicle, former NFL players Ronnie Lott and Rodney Peete are leading a group of investors who hope to develop the 120 acres where the Coliseum is currently situated. (The development would include a new stadium, obviously.)

Lott and Peete reportedly have met in recent weeks with team executives and city officials regarding the proposal.

The group of predominantly African-American investors also includes Egbert Perry, the chairman of the board at Fannie Mae and the CEO of Integral, a real estate and investment firm that ranks among the largest African-American owned businesses in the United States. Per the report, the group presumably would want to purchase a piece of the team, if a stadium deal can be hammered out.

Still, Oakland Mayor Libby Schaaf didn’t sound optimistic about the situation.

“I will not meet with any developer for this project unless they are brought to me by the Raiders, and I have asked the City Council to do the same,” Schaaf told the Chronicle.

Regardless of how the talks initiate, the clock is ticking on a possible deal to keep the team in Oakland. Although it’s believed that owner Mark Davis would prefer to stay, it can’t happen without an acceptable stadium arrangement. And there simply aren’t an overabundance of options at this point.