Durant Offers Raiders Fans Words Of Encouragement
OAKLAND (CBS SF) – NFL Hall of Famer Ronnie Lott got a bit of encouragement Tuesday for his efforts to help keep the Oakland Raiders from moving to Las Vegas.
Those words of support came in the form of a tweet from Golden State Warriors superstar Kevin Durant.
Lott quickly answered.
Lott was also pleased to see that Durant's teammate – Steph Curry – a true Carolina Panthers fan – was forced to wear a Raiders jersey to last Sunday's Raiders-Panthers game because he lost a bet.
Oakland Mayor Libby Schaaf has reached an agreement Lott and his private investor group on a framework to fund a new Raiders stadium in Oakland. The Lott group, she said, has the upfront capital to fund a new stadium.
The access to capital has long been a sticking point in negotiations with the Raiders. Raiders owner Mark Davis has pledged only $500 million toward construction of a new stadium but has estimated the construction cost to exceed $1 billion.
The state of Nevada has pledged up to $750 million in new hotel tax revenue to build a stadium in Las Vegas. Casino owner Sheldon Adelson has promised to contribute an additional $650 million, making it a tempting offer.
Schaaf has long opposed spending public money on a new stadium for the Raiders. Lott's group has demonstrated a "willingness and ability to put forward the private funds that we believe it would take" to build a new stadium, the mayor said.
"I have always been very clear that I do not think it's appropriate to repeat the mistakes of the past to put the general fund at risk, or put direct money toward stadium construction," Schaaf said.
She said she understands that Davis is frustrated with Oakland, saying that it was her job to bring him a deal that was competitive with Nevada's. NFL owners recently shot down a separate bid for the Raiders to move back to the Los Angeles area and share a stadium with the San Diego Chargers.
The Raiders did not immediately respond but Davis is aware of the framework, according to Schaaf.
The new stadium would be on the site where the Oakland Coliseum is now. Schaaf said if approved, the deal could lead to improvements in the area around the Oakland Coliseum, and create opportunity in the area and bring jobs to the city.
The land is currently jointly owned by Alameda County and the city of Oakland. Schaaf did not disclose whether the deal would involve the developer continuing to lease the land from the city or county or would be purchased outright, but said that the exchange would involve a fair market price for the property.
The plan still needs the approval of the Alameda County Board of Supervisors and the Oakland City Council. The Board of Supervisors took up the matter during a closed session Tuesday, according to Schaaf, while the Oakland City Council will consider it during closed session on Nov. 29.
The soonest it might be discussed publicly at a City Council meeting is Dec. 13, Schaaf said.
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