Oakland-Alameda Coliseum Authority approved a one-year extension of the Raiders’ lease with O.co Coliseum on Monday morning. While the proposal has to be approved by the City of Oakland and the Alameda County before becoming official, the extension is expected to pass without issue.
It keeps the Raiders in place through the 2014 season. The team and Oakland and Alameda County pledged to continue work towards finding the Raiders a permanent home in the East Bay.
There were a few clauses unique to this extension, the fourth supplement to a master agreement that began in the 1995 season.
The information was taken in large part from a staff report obtained by CSN California.
-- The Raiders must pay a $400,000 fee to the Coliseum Authority for O.Co Coliseum use. Their total rent for the stadium and training complex will drop to $1 million from $3 million this year.
-- The team is allowed to play one regular season or exhibition game outside O.Co Coliseum in a place approved by the NFL, a new provision designed to allow the Raiders to host the Miami Dolphins in London next season. The master agreement previously stated that all Raiders home games be played at the site.
-- Parking is capped at $35 per space, and revenue will be split with the Raiders.
-- The Raiders will be able to rent out their training complex for fair market value not to exceed $525,000 if it plays elsewhere in 2015 but is negotiating for a new stadium at the Coliseum site.