Oakland Raiders Start Coliseum JPA Lease Extension Talks, SF NFL Move Dead
ONN – The Oakland Raiders have restarted talks with the Oakland Coliseum JPA. That news came to this vlogger Thursday night via a well-placed source (which, I really hate using that tired term, but it will do for now). The idea of San Francisco as a temporary home is off the table.
At any rate, the discussions are very sensitive, so don’t expect the Raiders to cough up any information in the next few days, or until all is done. The focus of the negotiations between the Raiders President Marc Badain and Managing Owner Mark Davis, and the Oakland-Alameda County Coliseum Joint Powers Authority Board of Directors, is a proposed lease extension that’s said to have a rent level of $7.5 million. However, that version of the lease extension is not the only one: another one was crafted such that if the City of Oakland wins the lawsuit filed against the Raiders, the JPA would give back $2 million or if the Raiders won the lawsuit, they would get back $2 million. Still, a third version of the proposed lease extension may not include a lease extension. That’s on the Coliseum side.
The Raiders have wanted the City of Oakland to drop the lawsuit, and so Mark Davis based his entire episode of searching for a new temporary home on the City of Oakland’s legal action. But, Davis either forgot, or did not know, that the Coliseum JPA paid the Raiders game day expenses every year for 23 years, totally a present value of $207 million – something no other stadium authority would match, even in Las Vegas.
The Coliseum is the Raiders best choice. Moreover, Mark’s father, Al Davis, had his Raiders play in the Oakland Coliseum, even during active lawsuits between the City of Oakland, the County of Alameda, and the Raiders Organization.
Stay tuned.
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