Bay Area Officials Scheduled To Vote On Raiders Deal
City and county officials are expected to vote Tuesday on a deal for a new $1.3 billion stadium that supporters hope will keep the Oakland Raiders in town.
Approval by the Alameda County Board of Supervisors and the Oakland City Council will allow administrators to negotiate a formal agreement for a $1.3 billion stadium project that includes $350 million in public money by way of land and future revenue.
Earlier this year, team owner Mark Davis committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved. Oakland Mayor Libby Schaaf vowed to continue working on a counter-proposal for the Raiders to stay at the Oakland Coliseum.
A move to Nevada is not certain, although a vote by the NFL on whether to allow the move is possible as soon as January. Nevada will raise $750 million from a hotel tax to fund the stadium with billionaire casino mogul Sheldon Adelson contributing $650 million and the Raiders and NFL kicking in $500 million.
The Raiders must get approval from 24 of the 32 NFL owners to move.