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NEW DETAILS ON DEFICIT FROM RAIDERS DEAL IN OAKLAND
Published October 24, 1997
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).