Oakland Makes Last Ditch Effort to Keep Raiders

By ANDREW DALTON, Associated Press – With the Raiders gazing at Las Vegas and sticking one foot out the door, Oakland is making a last-minute plea to hang on to them.

Oakland Mayor Libby Schaaf on Friday shared details of investors’ plans for the first time for a stadium on the current Coliseum site, and vowed that she and the city are doing all they can to keep the team.

“We’re not giving up in the fourth quarter,” Schaaf said in a statement.

In a letter to the NFL, Schaaf shared new, detailed renderings of what the $1.3 billion, 55,000-seat football-only stadium would look like, and assured the league that Oakland would expedite the environmental review and other bureaucratic moves that could bog down the project.

On the financial side, the New York hedge fund Fortress Management Group is willing to work on terms for a $600 million contribution similar to the one Bank of America is offering for the Las Vegas stadium, Schaaf’s letter said. The group’s involvement was previously reported by The Associated Press and others, but is the first public airing of details of the hedge fund’s role. NFL Hall of Famer Ronnie Lott is working with the group and among those seeking to keep the team in California.

The NFL dismissed the initial plan put forward by the city and the investment group in December.

The city would put forth $200 million and the Raiders $500 million as they have proposed to do in Las Vegas.

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