Oakland Raiders Coliseum Lease Extension For 2019-2020 Expected To Be Approved Next Week
ONN – The Oakland Raiders Lease Extenstion with the Oakland-Alameda County Coliseum Joint Powers Authority is expected to be approved in public session at Oracle Arena next week. That news comes from a source who did wish to be quoted, a moment ago.
This space broke the story that the Oakland Raiders Coliseum Lease Extension was completed last week – all that remained was review by the Coliseum JPA Board, and then public approval. The Coliseum JPA reviewed the documents in closed session last Friday, and paperwork has been prepared with the Raiders, now, all that remains is a public hearing to mark the deal officially done.
The day of the meeting was not told to this blogger, but it’s expected to be either Thursday or Friday of next week. The Oakland Raiders Coliseum Lease Extension comes with a new, higher rent of $7.5 million for this year 2019, and a rent level of $10.5 million for the year 2020, in the event Las Vegas Stadium is not ready to host the Raiders for a full NFL Season.
Coliseum – Raiders Parking Settlement Part Of The Deal.
Also part of the deal is the much debated and controversial parking monies the Coliseum JPA claimed it was owed by the Raiders for past receipts not given to the JPA. That number totaled over $900,000; the agreement with the Raiders was to settle for $750,000.
The Oakland Raiders Coliseum Lease Extension means that the 100th Season of NFL Football will be played, fittingly for the Raiders, in the place where it all started after Frank Youell Field: the Oakland Coliseum Stadium.
Stay tuned.
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