SBD/Issue 49/Facilities & Venues

Raiders, Coliseum Authority Agree To Extend Lease Through '13

Terms Of Raiders' Lease Extension
Essentially The Same As Current Deal
The Oakland-Alameda County Coliseum Authority (OACCA) and the Raiders have "reached a tentative agreement to extend the term of the Raiders' lease" through at least the '13 season, according to Chris Metinko of the OAKLAND TRIBUNE. The previous lease agreement had been set to expire after the '10 season. The new deal must receive the approval of the OACCA, the city of Oakland and Alameda County and the NFL; Alameda County Supervisor and OACCA Chair Scott Haggerty and Oakland City Council President and OACCA Vice Chair Ignacio De La Fuente "anticipate that the authority, county and city will vote on the proposal before the end of the year." De La Fuente said that terms of the extension are "basically the same as the current lease, which calls for the team to pay $525,000 per season and share some other revenue with the authority, such as what they get from concessions." The extension also "calls for the team to pay an additional" $5M over the extra three years. The Raiders still would owe $5M if they decided to "move to another stadium outside Alameda County" (OAKLAND TRIBUNE, 11/19). In S.F., White & Jones write the lease extension "buys the Raiders time to work out a long-term deal with local officials with a potential eye toward building a stadium on the current site." De La Fuente: "To be honest, I was looking for more money. The reality is that the original Raiders deal did not work out very well for us, but at this point, we might as well try to work out a long-term lease and a long-term solution" (S.F. CHRONICLE, 11/19).

STAYING PUT: FANHOUSE.com's Nancy Gay wrote this is "good news for Raiders fans who may have been wondering whether the franchise might bolt again for Southern California by accepting the standing offer from" Majestic Realty Chair & CEO Ed Roski to "take up residence in his planned 75,000-seat," $800M stadium in Industry (FANHOUSE.com, 11/18). The Oakland Tribune's Jerry McDonald wrote it is an "indication that for whatever rumors exist about the financial instability of the franchise under" Owner Al Davis, there "isn't a buyer lined up to purchase the club and move it to Los Angeles in the foreseeable future" (IBABUZZ.com, 11/18).

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