Raiders extend lease at much lower rent

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Raiders owner Mark Davis has called playing on a gridiron equipped with a dirt infield a “travesty.”  He has voluntarily chosen to continue participating in the travesty, for at least one more year.

Earlier this week, the Raiders and the A’s both extended expiring leases at the Coliseum in Oakland, which means that they’ll jointly share the sewage-infested facility for at least one more year.

The A’s, which had multiple incidents with brown liquid in the Black Hole, nevertheless agreed to increase their rent from $800,000 in 2013 to $1.75 million in 2014 and 2015.  The Raiders, in contrast, received a major break on the rent, with their obligation plummeting to under $1 million.  In 2013, the Raiders paid more than $3 million.

The Raiders’ one-year lease also allows them to play one game elsewhere next year, which will happen when the Raiders play in London.

Meanwhile, Oakland and Alameda County will pay $14.6 million in 2013 and a minimum of $10 million per year through 2025 in connection with renovations made in the 1990s to lure the Raiders home from L.A.

With the Raiders under contract to play in Oakland for only one-more year and with a long-term solution not yet on the table, the Raiders could be back in L.A. long before the city and county stop paying the cost of getting them to leave L.A. in the first place.

8 responses to “Raiders extend lease at much lower rent

  1. With the Raiders under contract to play in Oakland for only one-more year and with a long-term solution not yet on the table, the Raiders could be back in L.A. long before the city and county stop paying the cost of getting them to leave L.A. in the first place ——————————————————
    In October, the Oakland City Council approved new potential investors — led by Dubai-based financier Rashid Al Malik — and extended the group’s exclusive negotiating period on the Coliseum City project. Coliseum City will potentially include three sports facilities, hotel and dining options, and possibly a science and technology district west of the Interstate 880 freeway. I wouldn’t put them back in LA just yet….

  2. The Raiders are moving.

    The project that ZakGilbert references above is many many years from being a reality. I am in the construction business, and trust me, if you’re at the phase where you’er approving negotiations with investors you’re at least 5-7 years away from putting a shovel in the dirt. No way the Raiders wait that long.

    And Joetoronto is right. The Raiders, despite recent failures, are one of the those teams with a national brand that would be sought after by other cities.

    You have to perform some pretty serious mental gymnastics to come up with a scenario where this team is still playing in Oakland in 3 years.

  3. “Meanwhile, Oakland and Alameda County will pay $14.6 million in 2013 and a minimum of $10 million per year through 2025 in connection with renovations made in the 1990s to lure the Raiders home from L.A.”

    Who was handling municipal finance when this agreement came into being? One of the masterminds from Detroit?

  4. Mark Davis really wants the Raiders to stay in Oakland. I think he would be willing to wait 5 years for a stadium as long as there was progress being made.

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