The San Francisco Chronicle recently came out with an outline that was put together by Oakland Mayor Libby Schaaf and others to get the funding to build a new stadium in Oakland to keep the Raiders from moving to Las Vegas.
In order to build the new stadium, the funding plan that was come up with would include $600 million from Hall of Famer Ronnie Lott’s investment group, as that group has been the most active in trying to keep the Raiders in Oakland, $200 million in public funding for infrastructure improvements and $200 million from the NFL from its stadium construction loan program.
With that $1 billion being accounted for, it would only require Raiders owner Mark Davis to kick in $300 million for the stadium to be built, which is the same amount that he was willing to pay for the Las Vegas stadium to be built.
Davis and the Raiders have had no part in these stadium developments though, so it would obviously require his approval and willingness to keep the team in Oakland.
The new stadium plan in Las Vegas has already been approved by the state of Nevada, as they received $750 million from the state in addition to a great sum of money from Las Vegas casino mogul Sheldon Adelson, so the Oakland group is trying to move quick if they want to keep their team.
If Davis still wants to move the team to Las Vegas he will likely apply for relocation at the beginning of 2017, and then the NFL owners will need to vote to approve the move.
The Raiders currently sit at 9-2, tied for the best record in the AFC and the atmosphere at home games is unlike it has been in recent years, so it may be in the best interest of Davis to keep the team in Oakland if the new stadium plan does end up being put into place.
