Report: Proposed stadium deal for Raiders in Oakland has projected $1.3 billion price tag
As owner Mark Davis continues to push forward with intentions to move the Raiders to Las Vegas, the city of Oakland and a private group led by Ronnie Lott are still working on a plan that could present the team with a viable stadium alternative in the Bay Area.
According to Phil Matier and Andy Ross of the San Francisco Chronicle, the deal proposal currently being vetted by the city of Oakland and Alameda County would call for $600 million in private money, $200 million in public money from Oakland and Alameda County, $200 million from the NFL and an additional $300 million from Davis.
The private money behind Lott’s interest would come from Fortress Investment Group.
Several problems remain with the proposal. Perhaps the biggest one is that Davis has not engaged in talks with the group since he’s focused on Las Vegas and the agreement he has made with Sheldon Adelson for a stadium for the Raiders to play in. Additionally, Fortress Investment Group may ask for a stake of the team for their investment, which may not be palatable to Davis.
Nevertheless, it seems to be a more tangible proposal for the Raiders to stay in Oakland than anything that’s come along so far. The Raiders winning doesn’t hurt either, especially when it comes time to approve $200 million in public funds for a stadium.