Ronnie Lott has divulged some details about a plan he and group of investors have to keep the Oakland Raiders in Oakland, but some uncertainties remain.
The intentions of the investment group have been fairly clear from the beginning. In partnering with Oakland officials and the Raiders, the group would help to bring some private sector investment to a football-only stadium and surrounding development at the Oakland-Alameda County Coliseum site. This could be helpful on multiple levels, especially since Oakland is not going to match the $750 million public contribution that the Raiders are receiving from the State of Nevada for a new stadium in Las Vegas.
Lott said that an outline of a term sheet has been turned into Oakland, but that information has not yet been made public. However, as he explained to ABC 7, the plan still has a key gap, which is the lack of a developer:
Ronnie doesn’t have a developer right now, but says a number have expressed interest including the DeBartolo group, owned by former 49er owner Eddie DeBartolo.
Lott says he’s not interested in owning part of the Raiders. He’s interested in being a good citizen as he saw how devastating it was to the city of San Francisco when the 49ers left.
As noted here yesterday, some in the NFL are waiting for Lott and Oakland to come forth with a plan. Reports indicate that some league officials may favor Oakland over Las Vegas, but any effort to keep the Raiders in town is going to require a clear blueprint as to how a new stadium will be financed.
Getting such a plan in place will be crucial for Lott and Oakland over the coming weeks. The NFL is currently studying the Las Vegas market, and Raiders owner Mark Davis could seek permission to relocate by January.
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