The Raiders need some help to build a new football stadium in the East Bay. The city of Oakland won’t commit public dollars to stadium construction, and even with some creative financing or bond issues, a third-party development entity could help finance that project.
It hasn’t worked out well in the past, with several trying to build a “Coliseum City” development attempts producing little success.
Then came a Street and Smith's Sports Business Daily report that the NFL could help the Raiders and Oakland with stadium development. That sounds exciting on the surface, but reports out Monday indicated that it remains an idea at this stage. No action has been carried out to pursue that concept.
"While we have not yet engaged in any specific discussions, we will certainly keep this in mind as we evaluate the options and tools for getting to a responsible proposal that works for all the stakeholders," Oakland mayor Libby Schaaf told Bay Area News Group.
Having the NFL and the Raiders involved with allocating development rights could ease some issues surrounding the use of outside development funds in the stadium construction process.
NFL executive vice president Eric Grubman told BANG that the NFL won’t shy from talking about development prospects in Oakland and that the league isn’t helping Oakland any more than San Diego or St. Louis, two other home markets with teams looking to relocate to Los Angeles.
The St. Louis Rams have set up a stadium proposal in Inglewood, while the Chargers and Raiders have a competing proposal in Carson. Last week the NFL set deadlines for Los Angeles relocation, and hopes to vote on which teams would move at a Jan. 12-13 meeting in Houston.
Under the current timetable, home markets must provided airtight proposals by Dec. 30. Teams can apply for relocation starting on Jan. 4.
Schaaf said Oakland won’t have a stadium financing plan by the NFL deadline. That means there is nothing the city can do to stop the Raiders from meeting relocation guidelines. If NFL owners decided to let the Raiders move, that would be it for the team in the East Bay.
Schaaf told BANG that she won’t expedite the process despite a looming deadline.
"I'm not going to let (it) pressure me into making any bad decisions,” Schaaf said, “and I cannot rush a public process that would be needed for approvals to put forward a formal proposal."