The Oakland Alameda County Coliseum Authority board has voted in favour of an extended lease for the Oakland Raiders NFL American football team to continue playing at the stadium for at least another season.
The Raiders are scheduled to move from California to a new $1.8bn (£1.36bn/€1.59bn) stadium currently under development in Las Vegas. The move is due to take place for the 2020 season and the team has technically been without a home for the 2019 campaign after its Coliseum lease expired on February 13.
The fallout of the Raiders’ relocation had complicated talks over the team’s stay in Oakland but on Friday the stadium authority board voted unanimously to approve an extended lease.
The San Francisco Chronicle reports that the deal will see the Raiders pay $7.5m to play nine home games at the Coliseum for the 2019 season. The team will also have to pay $750,000 in owed parking fees.
The deal also includes an option for the Raiders to continue playing at the Coliseum into the 2020 season if the new stadium is not ready on time. The rent would increase to $10.5m for the 2020 season.
Scott McKibben, executive director of the authority, said: “This is good for the city of Oakland, good for Alameda County. I am particularly pleased for the Raider fans. I am really happy that we are able to get it done and get it behind us.”
The Chronicle added that the stadium authority would receive 100 per cent of any money generated by a naming-rights deal for the stadium. The report notes that the previous lease deal stated that the Raiders and the stadium authority would share naming-rights money through a 50-50 split.
The state-of-the-art new stadium in Las Vegas is due to be ready by August 2020, prior to the start of the NFL season.
The Raiders had been linked with moves to Levi’s Stadium, home of NFL franchise the San Francisco 49ers, and Oracle Park, which hosts Major League Baseball team the San Francisco Giants, while its new stadium is being built.
Image: Oakland Raiders
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