The Oakland City Council and Alameda County Board of Supervisors have given the green light for talks to begin over a potential new $1.3bn (€1.2bn/£1.03bn) stadium, in an effort to keep NFL American football team the Oakland Raiders in the Californian city.
The Raiders had been expected to move away from Oakland, with the franchise having long been unhappy with its current O.Co Coliseum home in the city. Las Vegas had been cited as the most likely new home of the team, with plans already approved by Nevada authorities for a new $1.9bn stadium.
However, Oakland officials will now stage talks with an investment group over the possibility of building a new home for the team in Oakland. The group, led by NFL Hall of Famer Ronnie Lott and former Raiders quarterback Rodney Peete, will negotiate on a formal agreement for the $1.3bn stadium that includes $350m in public funds.
Under initial plans, the investment group will put forward $400m for the project, with the Raiders and NFL to provide $500m between them, and the city $200m for infrastructure. Oakland would also provide 100 acres of land worth $150m.
Meanwhile, the NFL has approved a lease agreement between the Los Angeles Rams and the San Diego Chargers, in preparation for the latter’s mooted move back to LA.
The Rams, which moved to LA for the start of the current season, signed a deal to lease the yet-to-be-built stadium in Inglewood, with the Chargers now having the option to share the facility should the team decide to relocate to LA. The franchise has until January 15 to make a decision, but requires approval from at least 24 of the 32 NFL owners.
Should the Chargers opt to move, the team will have to locate a temporary home, with NBC citing the O.Co Coliseum or StubHub Center as options.
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