A group of investors with ties to NFL Hall of Famer Ronnie Lott is offering to purchase the Coliseum land with the hopes of keeping the Raiders in Oakland, according to a letter the group’s attorney sent to local officials last week…
The group proposes purchasing the Coliseum land — which includes Oracle Arena and other nearby properties — for $167.3 million, which accounts for bond obligations owed and prepayment penalties. The plan includes upgrading and replacing the site’s sewer and septic systems, which infamously have backed up during games, spewing raw sewage into dugouts and team clubhouses.
Note that Lott, who previously expressed an interest in developing the Coliseum site with a new Raiders stadium included, isn’t actually involved in the bid, though some of his partners are. The front man for the land bid appears to be Martin J. Greenberg, who is co-founder of the National Sports Law Institute at Marquette University Law School, which is just weird, but I guess everybody in the stadium world is tempted to jump in and be part of the game at some point.
Oakland Mayor Libby Schaaf immediately rejected the bid, though it’s not immediately clear whether this was because she felt it was too low a price for 120 acres of downtown (well, sort of downtown) Oakland land, or because she doesn’t want to piss off Raiders owner Mark Davis and A’s owner Lew Wolff, each of whom would rather develop the land themselves. Schaaf told the East Bay Express:
“We did not recommend consideration of this offer at this time,” the mayor said. “We remain committed to a team-centered development. We want the Raiders and the NFL at the center of this future site.”
There are so many players here and so much potential jockeying for leverage that it’s hard to tell who’s trying to put one over on whom at any given point, but at least, unlike in Phoenix, there are actually some people who want the stadium land in Oakland. Actually wanting to pay for building a stadium without getting a cheap deal on development rights is another thing, but hey, baby steps!