Oakland, county weigh $1.3B Raiders stadium financing deal

[TexasTowelie]

SAN FRANCISCO -- City and county officials are expected to vote Tuesday on a deal for a new $1.3 billion stadium that supporters hope will keep the Oakland Raiders in town.

Approval by the Alameda County Board of Supervisors and the Oakland City Council will allow administrators to negotiate a formal agreement for a $1.3 billion stadium project that includes $350 million in public money by way of land and future revenue.

Earlier this year, team owner Mark Davis committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved. Oakland Mayor Libby Schaaf vowed to continue working on a counter-proposal for the Raiders to stay at the Oakland Coliseum.

"If we don't do this, we have no shot. It's game over," said Jim Zelinski, co-founder of Save Oakland Sports, a nonprofit organization seeking to keep the Raiders and other professional sports teams in the city.

Read more here: http://www.kansascity.com/news/business/national-international/article120545648.html

[Jake Stern]

1. When will these cities stop giving in to team owner's extortion?

Perhaps they'll stop doing it when enough folks get pissed off.

[Brother Buzz]

2. County approves negotiations on $1.3B Raiders stadium

County approves negotiations on $1.3B Raiders stadium

OAKLAND, CALIF.
Alameda County supervisors approved opening negotiations with an investment group on a proposed $1.3 billion stadium project that backers hope will convince the Oakland Raiders to stay in the city.

The Oakland City Council also will consider the issue Tuesday night. If the council approves as well, the parties can start negotiating a formal agreement for a stadium project that includes $350 million in public money by way of land and future revenue.

The push for a new stadium project is being led by Hall of Famer Ronnie Lott, who played for the Raiders and the San Francisco 49ers, and former quarterback Rodney Peete. Three of five supervisors voted yes after more than three hours of testimony and discussion.

"What it comes down for me is trust and my mother would trust Ronnie Lott," said board President Scott Haggerty. "I trust this man and he's somebody I want to do business with, and I hope he's somebody (team owner) Mark Davis wants to do business with."

Read more here: http://www.sacbee.com/sports/nfl/oakland-raiders/article120545648.html#storylink=cpy

[Brother Buzz]

3. Passed the City Council (7-0)

Now the fun begins. I never believed this project would have advanced this far, but a hat tip to Ronnie Lott for spearheading what I initially perceived as a pipe dream.