SFGate has attempted to calculate how much additional money would be needed to get new stadiums built in Oakland for the A’s and Raiders, and the answer is: a whole hell of a lot of money.
– A new Raiders stadium is expected to cost roughly $1 billion. A new A’s stadium could run $400 million to $600 million.
– It will cost at least $150 million to tear up the sprawling O.coColiseum parking lots to build the new streets, water pipes and sewers needed to lure hotels, condos and restaurants that will help subsidize the stadium.
– Roughly $100 million is needed to pay off the bond debt still attached to the Coliseum after the city and Alameda County paid for major upgrades in 1995. And everyone in the mix – city officials, county officials and team owners – is fighting with someone. If they don’t learn to get along, one or both teams could still leave the city.
Calling this $1.75 billion in needed funds, as SFGate does, isn’t quite fair: That $100 million to pay off the rest of the Coliseum is a sunk cost (it needs to be paid regardless of whether new stadiums are built), and A’s owner Lew Wolff has said he’ll privately fund his own stadium costs — though whether that includes land and infrastructure costs is as yet unknown, and when asked where he’d come up with private funds, he replied only, “We’re studying that right now.” The Raiders ownership has promised $200 million toward a stadium, plus could likely get another $200 million in NFL G-4 funding, leaving probably a $600 million gap there.
Still, that’s at least $750 million that would have to come from “TBD” in order to get a pair of stadiums built, if you could even get the two teams to agree on who would get control of the broader Coliseum site for redevelopment. And SFGate doesn’t even get into the value of the land itself once improved by that $150 million in infrastructure spending, or whether the stadiums and other development would pay standard property tax rates … really, we have no damn clue how much this would really cost, or who would pay for it. It’s a crazy expensive project (or two projects), though, so hopefully somebody will actually start putting real numbers to paper sometime in the near future.