Alameda County Officials Approve Raiders Lease Extension
OAKLAND (CBS SF) -- The Alameda County Board of Supervisors has approved an agreement to extend a lease agreement that will keep the Oakland Raiders at the O.co Coliseum for at least one more year.
The agreement also includes two additional one-year extensions that could keep the Raiders in Oakland for the 2017 and 2018 football seasons as well.
The board's action was considered a formality because a tentative agreement was announced by the Raiders and city of Oakland and Alameda County officials back on Feb. 11 and the Joint Powers Authority, which consists of city and county officials who oversee the Coliseum complex's operations, voted to approve the agreement on March 25.
The agreement must also be approved by the Oakland City Council but the council is expected to vote in favor of it at its meeting. The agreement would then become final.
The pact calls for more than tripling the amount of rent the Raiders will pay to the city and county for using the O.co Coliseum and their publicly-owned training facility in Alameda, from $925,000 to $3.5 million.
The rent for the Alameda training facility will remain the same at $525,000 a year but the rent for the stadium will increase from $400,000 to $2,975,000 annually.
The increase is intended to cover the costs the city and county incur on the days of football games.
The Joint Powers Authority said the Raiders and the city and county are still actively discussing longer lease extensions as well as the possibility of building a new football stadium at the site.
Raiders owner Mark Davis has explored the possibility of moving the team to other cities such as Los Angeles, San Antonio and Las Vegas but when the tentative lease extension was announced in February he said it would give the team the chance to work out a deal with the city and county to build a new stadium that would keep his team in Oakland for the long term.
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