Oakland and Alameda County officials will dissolve the
independent Coliseum board and direct it themselves in the
face of the "huge cost of keeping three sports teams in
town," according to Renee Koury of the SAN JOSE MERCURY
NEWS. One of their first priorities will be to renegotiate
terms of the city's deal with the Raiders, which could cost
taxpayers millions of dollars due to "sputtering ticket
sales and soaring costs." Disbanding the board, which ran
the stadium and arena for more than 30 years, also ends the
term of Board President George Vukasin, who has served as
stadium director since '83 (SAN JOSE MERCURY NEWS, 12/17).
WHO'S IN? Under the proposal, two members each of the
city council and board of supervisors will be appointed to
form the Joint Powers Authority, which will control the
Coliseum. Officials want to re-examine lease deals with
each local team, as the public must repay $197M in bonds
that financed the Raiders' move from L.A. and the Coliseum
expansion, plus $140M in bonds to keep the Warriors in
Oakland in a remodeled arena. Officials from the Raiders,
A's and Warriors said they were unaware of any impending
renegotiation of lease terms (SAN JOSE MERCURY NEWS, 12/17).
In S.F., Rick DelVecchio notes the move to give more control
to local elected officials comes in the "wake of financial
embarrassments and a lack of accountability that has
tarnished" the Raiders deal (S.F. CHRONICLE, 12/17).
