Despite increased attendance for the 11-4 Raiders this
season, it has "yet to translate into monetary relief" for
local taxpayers, "primarily because" fans are not purchasing
PSLs that were to cover a significant amount of the deal
that brought the team back to Oakland, according to Robert
Gammon of the OAKLAND TRIBUNE. Alameda County
Auditor/Controller Pat O'Connell estimates that the deal,
"which wasn't supposed to cost" taxpayers any money, "has
resulted in a public subsidy that will total" $108M by the
end of this fiscal year. The "best way" for the city of
Oakland and Alameda County "to slow down the skyrocketing"
debt is to sell more PSLs. But the OAKLAND TRIBUNE obtained
figures that indicate this year's sales of PSLs, which cost
$150-2,400, "have been few," as the number of PSL holders
has increased from 27,500 before the season to 27,800
through November. O'Connell noted that PSL sales and annual
seat license maintenance fees "generated" about $700,000 for
the city and county this year through November. Meanwhile,
the debt will grow "at least" until the $198M in bonds to
finance to the deal are paid off with interest, which is
expected to take 25 more years. Single game ticket sales
"do little" to pay off the debt, in which the city and
county collect a $10-20 surcharge per ticket. Despite the
team's success, fans "still appear to be uninterested" in
buying PSLs. Luxury suites have also been slow to sell, as
only 70 are leased for every game (OAKLAND TRIBUNE, 12/17).
