Raiders willing to contribute $300 million towards a new stadium in Oakland

According to Mathew Artz of the Oakland Tribune, the Raiders would like to build a new 50,000 stadium in the city of Oakland, which would be the smallest stadium in the NFL. The problem is they need help funding it.

A team-commissioned study found enough demand in Oakland for a 50,000-seat football stadium that would cost roughly $800 million, said David Stone, whose firm, AECOM, is advising Oakland and Alameda County officials on stadium construction.

Stone said the Raiders have proposed contributing about $300 million toward the project. If the NFL agreed to provide $200 million from its stadium loan program, that would leave an estimated $300 million shortfall, Stone said Monday during a meeting of the joint Oakland and Alameda County board that governs the Oakland Coliseum complex.

Team officials were not at the Monday meeting. Mike Taylor, the team’s director of public affairs, said in a statement that “Both sides are conducting studies to determine the demand and financial viability of the project.” City leaders had been adamant about not subsidizing a new football stadium after losing tens of millions of dollars to bring the Raiders back from Los Angeles, but their tone softened Monday.

The city of Oakland doesn’t have a lot of time to figure out what they’re going to do. It’s been obvious for years that the Raiders need a new stadium and a deadline to get something done is fast approaching.

 

  • http://kingcezer.wordpress.com kingcezer

    It is a known fact that the Oakland Raiders have been on the back burner for decades when it comes to fair and equal treatment from the NFL, Referee’s and so on. But now is a new time, a new era in Raider history. With the great Al Davis gone, now is the time to move in a positive direction for both Organizations, including the City Of Oakland. To compete you need to fill the seats. That means attract the public to where the team is, a location that says this is home to the Raiders. Oakland needs to step up. Because if they do not Los Angelos will and then they will be gone for good. That would be sad, because they are the Oakland raiders and this is where they started so many years ago. To compete for players, Super Bowls and other means of off season entertainment, this needs to be a monumental Stadium. One that speaks Raiders and their history. With that being said, everyone involved needs to step up. So if the Raiders commit 400 Million dollars and the league commits 400 million and the city 200 million, there is the kind of stadium well deserved to and Organization that has meant so much and influenced the NFL to what is today! And that is the truth! That is my opinion. Have a great day, and always. Go Raiders!

  • Zapato

    If every Raider fan worldwide would contribute say $25- am sure the taxman could stay away from the rest of the crowd.