A group of predominantly African-American investors led by Pro Football HOFer Ronnie Lott and former NFLer Rodney Peete is "making a bid to help build the Raiders a new stadium in Oakland," according to Matier & Ross of the S.F. CHRONICLE. Lott and Peete in recent weeks "have met with team executives and Oakland officials to brief them on their proposal to be master developers of the 120-acre Coliseum site." Fannie Mae BOD Chair Egbert Perry, Mission Bay Development Group Founder Seth Hamalian and BDA Sports Founder & Chair Bill Duffy also are "joining the effort." There was "no immediate indication of just how much money the group, backed by a hedge fund, is willing to put into the deal." But sources said that members of the group "would like a minority share" of the Raiders. Oakland Mayor Libby Schaaf said that she "wanted the city to work directly with the Raiders when it comes to plans for the Coliseum’s development." She said, “I will not meet with any developer for this project unless they are brought to me by the Raiders, and I have asked the City Council to do the same." Matier & Ross note more meetings are "expected this week" with members of the Alameda County Board of Supervisors. A source said, "If there is no deal by September (to keep the Raiders in Oakland), there will probably be a deal with the NFL to allow the team to relocate to Las Vegas" (S.F. CHRONICLE, 5/24).
MILES FOR DAVIS: In San Jose, Artz & McDonald note Raiders Owner Mark Davis has previously said that he was "open to working with an outside developer who could put money" into an estimated $1B stadium project "in return for a share of the team and development rights to some of the surrounding publicly owned land at the sprawling Coliseum complex." But the NFL in the past "has chastised Oakland officials for ignoring the Raiders and selecting outside development groups for the project, which could siphon off revenue from the team" (SAN JOSE MERCURY NEWS, 5/24). PRO FOOTBALL TALK's Mike Florio noted although it is believed that Davis "would prefer to stay, it can’t happen without an acceptable stadium arrangement." And there "simply aren’t an overabundance of options at this point" (PROFOOTBALLTALK.com, 5/23).
