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Report: Raiders Closing in on Oakland Coliseum Lease Extension

Oakland Raiders

The Oakland Raiders appear close to finalizing an Oakland Coliseum lease extension that would cover 2019 with an option for 2020, according to the San Francisco Chronicle. 

Since a lawsuit was filed in December by the City of Oakland against the Raiders and the NFL, there have been questions about where the team will play home games in 2019. Although the Raiders have been linked to several options over the last few weeks–including San Francisco’s Oracle Park, among others–it appears that they are close to finalizing an agreement to return to the Oakland-Alameda County Coliseum next season.

Under the reported terms of the potential agreement, the Raiders would secure the Coliseum for 2019 with an option to cover 2020. That option could provide a contingency in the event that construction of the team’s new home in Las Vegas falls behind schedule. An agreement to return to the Coliseum is not final at this point, but the Chronicle reported that “[a]n announcement is expected this week or early next week, according to sources close to the talks.” More from the San Francisco Chronicle:

The Raiders appear to be close to wrapping up a deal to keep the team playing at the Oakland Coliseum this year and possibly in 2020. An announcement is expected this week or early next week, according to sources close to the talks.

“It’s for one year for sure, with an option for the second year,” said one source who could not speak on the record because of the sensitive nature of the negotiations.

Under the proposed deal, the Raiders would pay $7.5 million this year with the rent rising to $10.5 million if the team stays on through 2020. The option for an extra year is insurance in case the team’s new $1.8 billion stadium in Las Vegas isn’t ready.

The deal is being worked out between Oakland-Alameda County Coliseum Authority Executive Director Scott McKibben and Raiders President Marc Badain. Authority members have been kept abreast of the talks in closed session and are barred from speaking publicly on the details at this point.

The agreement would allow the Raiders to remain in Oakland for at least one more season, and end speculation about whether or not they need a temporary home to cover 2019. As for the option reportedly in the deal, it would allow the Raiders to avoid last-minute uncertainty about 2020 in the event that the new Las Vegas stadium’s construction falls behind schedule (though it appears to be moving along at this point).

Should these plans move forward, the Coliseum would host seven regular-season home games for the Raiders in 2019. The team is slated to play one home game in London.

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