Oakland group sends Raiders stadium plan to NFL, no you can’t see it, who do you think you are?

The would-be Oakland Raiders stadium builders led by Fortress Investment Group and former NFL star Ronnie Lott sent a formal proposal to the league yesterday, and it looks a lot like the $1.3 billion plan announced in November. Take it away, San Jose Mercury News:

The Fortress/Lott plan has called for a $1.3 billion, 55,000-seat stadium project at the current Coliseum site. The investors would contribute $400 million, the Raiders and NFL $500 million and the city of Oakland $200 million for infrastructure.

So that’s .. only $1.1 billion? (The November plan had the investors contributing $600 million.) Hey, Merc News, what’s up with your math? Any other news outlets have numbers that actually add up, or at least note the $150 million in free land that Oakland would give up in the deal? No? Damn.

The bigger question, in any event, isn’t who’ll front the money, but rather who’d receive which stadium revenues to pay themselves back. There doesn’t appear to be enough money to go around to make everyone — Fortress/Lott, Davis, and Oakland taxpayers — whole, so that remains the tricky part. It sure would be nice to see the actual proposal, what with the public on the hook for a $350 million chunk, but apparently it’s for NFL eyes only right now. If the league ends up taking it seriously, which doesn’t seem likely given their previous statements on the matter, maybe the hoi polloi will get a glimpse later on.

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8 comments on “Oakland group sends Raiders stadium plan to NFL, no you can’t see it, who do you think you are?

    1. Evidently, every stadium consultant who’s done market research on the Bay Area tells developers that anything bigger than 55K capacity will lose money hand over fist. Too many large venues, not enough football fans.

      1. That same bay area market research is why no serious investor is ever coming forward to put a stadium in Oakland.

        The greatness of the Raiders is in LAS VEGAS (after a farewell Super Bowl run in Oakland, of course)

  1. If the Raiders stay, can they PLEASE keep the Mt. Davis side and rebuild the three curved sides of the stadium? How much are people willing to pay for that new stadium smell? REBUILD!

  2. Maybe they can make it a Sanctuary stadium. There’s at least 65,000 illegals in the county.

  3. Niners make lots of money off 8 million Bay Area citizens. Raiders could easily do the same. How does Shithole vegas expect to compete with a huge metropolis? Their tiny poor population is far too small to host an NFL TEAM lol

    1. They’re not only competing with the 49’ers for that corporate money. Market studies have said the number of major sports teams that can be viable in the current market is 4.

      There are 7 (49’ers, Raiders, Giants, A’s, Warriors, Sharks, and Earthquakes).

      Vegas, OTOH, has no real competition for corporate money (NHL Golden Knights will not substantially effect the Raiders plans), and the most disposable income of any major market in the US.

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