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Investment Group Offers To Purchase Coliseum Land In Hopes To Keep Raiders In Oakland

A group of investors with ties to Pro Football HOFer Ronnie Lott is "offering to purchase" the Oakland-Alameda County Coliseum land with "hopes of keeping the Raiders" in the city, according to a front-page piece by David DeBolt of the EAST BAY TIMES. The group's attorney sent a letter expressing the offer to local officials last week. The letter dated Sept. 12 arrived days before NFL Commissioner Roger Goodell "expressed optimism for a stadium deal in Oakland, and meetings between local officials and an NFL executive in charge of stadium construction and franchise retention." However, sources said that the city "swiftly rejected the proposal." Those sources yesterday said that they view Goodell's comments as a "positive sign for an Oakland stadium deal, but that they are not moving forward with the offer." Milwaukee-based attorney Martin Greenberg said that his clients, Stadium Real Estate Partners and its master developer, The Integral Group, are "offering to purchase the Coliseum to renovate it or build a state-of-the-art sports facility." The group "proposes purchasing the Coliseum land" for $167.3M. The plan includes "upgrading and replacing the site's sewer and septic systems, which infamously have backed up during games" (EAST BAY TIMES, 9/21). In San Jose, Mark Purdy noted the "most valuable asset that Oakland and Alameda County have to offer is the land on which the current Coliseum sits." If somehow that land can be "leveraged into a deal with a private party such as the Lott Group that would give the Raiders a stadium that they want ... perhaps there's a 'solution' to be had." However, it is going to be a "rugged road getting there." Oakland must find something to do with the A’s, whose lease gives them a "right to play in the Coliseum" through the '23 season if they wish (SAN JOSE MERCURY NEWS, 9/20).

MEET & GREET: In Las Vegas, Michael Davidson notes Clark County commissioners yesterday discussed the proposed NFL stadium and "other recommendations from the Southern Nevada Tourism Infrastructure Committee for more than an hour before deciding to reconvene if Gov. Brian Sandoval calls a special legislative session to consider the plans." The proposals are "outlines of what the infrastructure committee hopes to accomplish." They are not bills with "specific details lawmakers could vote for or against" (LAS VEGAS REVIEW-JOURNAL, 9/21).

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