Oakland okays talks about giving Raiders $350m for stadium, pretends it didn’t just do that

The Oakland City Council and the Alameda County Board of Supervisors both approved the term sheet for opening negotiations on a new Raiders stadium yesterday. That’d be the plan that would provide $350 million in public land and cash, with no clear indication how the money would be repaid, and so of course one of the elected officials voting for the plan said this:

“To me, it’s worth taking the next step because we’re not committing taxpayer dollars to do it,” board President Scott Haggerty said.

Some days, I really don’t know why I bother.

The county supervisors voted after a three-hour hearing in “a room sparkling with sports celebrities,” according to ESPN. Among those was prospective stadium investor Rodney Peete, who appeared in one game for the Raiders in 2001 and so of course said this:

“I was lucky enough to play for 16 years. I played for six different teams, and we’ve all played for different teams. But we’re all here, fighting for the Raiders,” said former Raiders quarterback Rodney Peete, who is [Ronnie] Lott’s development partner.

Anyway, Oakland now has its counteroffer (or at least the framework for an idea for a counteroffer) to try to convince Mark Davis not to give Sheldon Adelson what he wants in order to move to Las Vegas, or at least to convince nine NFL owners to block a Vegas move while Oakland talks continue. It’s a bidding war that, like all city-vs.-city bidding wars, is not likely to end well — unless Lott and Peete can figure out how to build a $1.3 billion stadium and somehow generate enough new revenues from it to have themselves, Davis, and Oakland all turn a profit. Hey, hope springs eternal!

5 comments on “Oakland okays talks about giving Raiders $350m for stadium, pretends it didn’t just do that

  1. As mentioned it’s just an opening of negotiations and it likely will go nowhere.

    However, if it does go somewhere the optics seems like political suicide for Schaaf. Everyone is talking about the Ghost Ship Fire, not the Raiders. It’s mushroomed into discussions of affordable housing, artist spaces and insufficient building inspections. The Raiders are barely getting a mention. If in the midst of that Oakland drops a bunch of public money on the Raiders…well, let’s just say I wouldn’t want to be running her re-election campaign or future campaign for statewide office.

  2. I’m having a hard time finding even one person who thinks the Oakland deal will go through. Mark Davis isn’t selling, and every deal I’ve heard proposed so far involves new part-owners. I just think it’s come to a point where if you own have under $1b in assets, you cannot be the sole owner of any sports team.

    I’d love to own an exotic car myself, but if you have a net worth of under about $5m, it’s a stretch. Similarly, Mark Davis is the sole owner of a luxury item he can’t really afford. This isn’t a slam, it’s just life.

    • Mark Davis and Al’s Wife own, a reported, 47% of the team. Therefore it is possible that the remaining owners could sell their interest in the team, without Mark selling his interest.

      • Doesn’t the Davis family still have overall control of things even with only 47% vested interest?Mark Davis might not be as stubborn as his father but its all about control.