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November 19, 2009
Raiders re-up in Oakland through 2013
In what has to be classified as a major surprise, the Oakland Raiders have agreed to a three-year lease extension at the Oakland Coliseum, keeping the team there through 2013 — and are even agreeing to a $5 million a year rent hike.
"To be honest, I was looking for more money," city councilman (and Coliseum Authority co-chair) Ignacio de la Fuente tells the San Francisco Chronicle, noting that stadium operations and debt on Mount Davis currently comes to $12 million a year. "The reality is that the original Raiders deal did not work out very well for us, but at this point, we might as well try to work out a long-term lease and a long-term solution."
Unless there are further details that are going unreported (like, say, hidden rent kickbacks), this seems like a pretty good negotiating job by de la Fuente, especially given the threat posed by the new Los Angeles stadium. (Though it's worth noting that wouldn't be built until at least 2012, so the Raiders presumably needed to extend their lease for at least one year.) The city, county, and stadium authority all still need to sign off on the deal, which is expected by the end of the year.
Al's just covering his bases until one or both of the Santa Clara and LA stadiums are completed. The only question now is, which one is he planning to move the Raiders to.
Posted by Dan on November 19, 2009 07:47 PM
Actually, Dan, this is proof positive that Al Davis is demonstrably senile and has lost all sense. Or maybe not, since he isn't whining like a baby about how much he really wants to move to LA (at least this time).
Posted by Marty on November 20, 2009 05:01 PM
Well, Davis did come in like a bolt of thunder out of the blue to re-up with the Coliseum until after the '13 season concludes. By then he will have decided what is next: stay in Oakland (less than 50-50); relocate back to LA to the Roski stadium (50-50 because Roski would want to buy the club); or elsewhere (better than 50-50) with these possibilities in order of their chances at this moment, but not three years down the road (San Antonio, Oklahoma City, Birmingham, Orlando, Memphis, Salt Lake, Honolulu, Portland, Norfolk, Las Vegas, or Jackson MS). It will be interesting to see what happens starting in '11 or '12.
Posted by Scott on November 21, 2009 06:53 AM
Don't those odds add up to like 150%?
Posted by Neil on November 21, 2009 08:19 AM
Actually the idea that Roski wants to buy a team isn't exactly accurate. He's stated he'd settle for a minority stake. He doesn't necessarily want a controlling interest in a team. And Al has a history of dumping off minority stakes like they're cheap candy.
Posted by Dan on November 22, 2009 02:20 AM