City and county lawmakers are poised today to approve an
$85M deal that will return the Raiders to Oakland, according to
the OAKLAND TRIBUNE. Stacey Wells and David Li report questions
about the deal emerged over the weekend, when city councilmembers
and Alameda County supervisors began to "puzzle" over an "inch-
thick" stack of lease documents released by city officials late
Friday. But City Councilmember Ignacia De La Fuente predicted
Monday the deal will be passed unanimously. De La Fuente: "In
the best of all possible worlds, we would have got the
information earlier" (OAKLAND TRIBUNE, 7/11). The two groups are
expected to formally authorize the issuance of bonds to pay for
renovations and a relocation loan today, according to the S.F.
CHRONICLE. Items in question include 100 tickets controlled by
Coliseum officials who would not have to pay the up-front PSL fee
(Peter Fimrite, S.F. CHRONICLE, 7/11). THE TAXMAN CALLETH:
Attorneys for the IRS told a U.S. Tax Court that the Raiders have
failed to pay income taxes on at least $17.9M in payments and had
wrongfully taken a $400,000 deduction for a "bad debt" in the
'80's, according to the L.A. TIMES. The attorneys noted the
Raiders said most of this money was taken as a loan and not
acknowledged as income. With interest, the Raiders could be
liable for as much as $20M. Kenneth Reich notes a decision not
expected "for months" (L.A. TIMES, 7/11). Raiders Owner Al Davis
defended himself against the allegations. The IRS claims that
the $6.7M Davis reecived from the L.A. Memorial Coliseum from
'82-86, $10M from Irwindale in '87, and $1.2M in damages from
Oakland in '88-89 should "have been treated as income." Davis'
attorneys argued that the money could be treated as loans
"because the team had every intention of paying the money back
once" it built skyboxes in L.A. or a new stadium (Barry Witt, SAN
JOSE MERCURY NEWS, 7/11).
A'S GET AN OUT: The Coliseum Board reached a decision which
would allow the new A's owners, Stephen Schott and Kenneth
Hoffman, to end their lease at the end of the '98 season. The
lease originally runs through 2004. The proposal needs approval
from county and city officials (Sandy Kleffman, SAN JOSE MERCURY
NEWS, 7/11).
