SBD/24/Facilities Venues

NEW DETAILS ON DEFICIT FROM RAIDERS DEAL IN OAKLAND

          Without a "surge" in PSL sales, Oakland and Alameda
     County "may have to spend" $11M to $16M this year to help
     make payments on the $230M Raiders' debt, according to Renee
     Koury of the SAN JOSE MERCURY NEWS.  County Supervisor Mary
     King: "We're now talking about money that comes from
     taxpayers.  It's no longer money that's coming out of
     (revenues from) the deal.  This is now money that comes out
     of police, fire, welfare and hospitals."  On Thursday,
     officials reported that the Oakland Football Marketing
     Association, after recording "poor sales," already has spent
     $1.5M in the first three months of this FY -- which is
     $500,000 more than the marketing budget for the entire year. 
     Koury reports that "the beleaguered agency wants an
     additional $425,000 for the next two months, and about"
     $1.5M for the following six months.  Koury adds that the
     authority "is skittish about giving the agency any cash
     because sales haven't improved in spite of spending nearly"
     $14M so far on marketing (SAN JOSE MERCURY NEWS, 10/24).

Return to top

Related Topics:

Facilities, Oakland Raiders

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug