Oakland Mayor Jean Quan has a stadium offer ready for the Raiders, and it’s a doozy: The city would give Raiders owner Mark Davis free rights to the Oakland Coliseum property, as well as city-funded infrastructure upgrades, plus agree to pay off $120 million in remaining debt on the Coliseum’s last round of renovations. In exchange, Davis would build his own damn stadium.
Much of the report by the San Francisco Chronicle’s Matier and Ross is devoted to where Oakland would get that $120 million — leading Quan spokesperson Sean Maher (nope, not that one) to hilariously reply, “That’s a great question that we will probably not say anything about.” But the far bigger issue here could be the land and infrastructure gifts: SFGate has previously estimated the needed infrastructure costs at $150 million, and if Quan’s plan includes development rights to all 800 acres that were previously discussed, that could be a value of … let’s see, a piece of undeveloped waterfront property recently went for about $500 an acre (before remediation costs, which presumably here would be paid by the city), so let’s call it possibly $400 million, more or less?
Anyway, this is just a proposal, and one that neither Davis nor the Oakland city council has yet weighed in on. But if it’s setting the boundaries of debate, man, Oakland is looking at getting hosed. At worst, somebody should call A’s owner Lew Wolff to see if he’d be willing to beat that bid for the land — he has to have a Sacagawea to spare, no?