With the undefeated Warriors headed to San Francisco in a couple years and even the A's trying to "pull a Niners" and move to Silicon Valley, it's about time the city of Oakland got some good sports-related news.
The Oakland Raiders, who are considering moving to Southern California lured by a new stadium in Carson, may remain in the East Bay after all if the Town can push through a plan for the NFL to act as the developer on a new stadium.
Mayor Libby Schaaf said last month that she was seeking ways to keep the Raiders local, but, the city would not subsidize construction of a new stadium. Under the proposed plan, the NFL would provide security for ground lease payments as well as revenue to pay off stadium bonds, while also joining as a partner on the new "Coliseum City," which would include office space, housing, retail and hospitality.
Previous plans to keep the Raiders in Oakland included loans of $200M - $250M from the NFL and similar investment from the Raiders franchise toward a stadium, which could cost around $900M total. According to Schaaf, adding development at the site would help to draw in additional investors ... but the NFL has historically been against larger projects that could slow stadium construction.
The city of Oakland has until December 28th, a deadline set by NFL Commissioner Roger Goodell, to put together a plan, and the Raiders can choose to file for relocation on January 4th.
The cities of San Diego (Chargers) and St. Louis (Rams) are also fighting to keep their NFL teams this month.