Ronnie Lott-led group submits Oakland stadium plan to NFL

Ronnie Lott-led group submits Oakland stadium plan to NFL

Sat Mar 11, 2017 3:52 am

A group leading the<a href="http://www.authenticnflraidersshop.com/shop-by-players-ronnie-lott-jersey-c-2_32.html">Ronnie Lott Womens Jersey</a> charge to keep the Raiders local has formally submitted a plan to the NFL for the first time.
"A person familiar with the deal said Tuesday that the plan was submitted by the Fortress Investment Group within the past 10 days," the Associated Press reports."The person spoke on condition of anonymity because the submission was not made public."
The NFL is expected to vote on the move in late March..
Enlarge
The NFL is expected to vote on the move in late March..
TONY GONZALES
Sports Business Daily first reported the news.
Both the Oakland City Council <a href="http://www.authenticraiderssale.com/shop-by-players-rodney-hudson-jersey-c-2_9.html"> Rodney Hudson Womens Jersey</a> and the Alameda County Board of Supervisors voted in mid-December to support a plan to enter into an exclusive negotiating agreement with former NFL legend Ronnie Lott's investment team to build a new stadium for the Raiders. The plan submitted by Fortress Investment Group represents that group's formal outline for how it hopes to keep the team in the Bay Area.
The Oakland council voted 7-0, with one abstention, and the county board voted 3-1, to accept the plan, which will create a $1.3 billion<a href="http://www.authenticsteelerssale.com/shop-by-players-sammie-coates-jersey-c-2_7.html">http://www.authenticsteelerssale.com/shop-by-players-sammie-coates-jersey-c-2_7.html</a> coliseum complex. The 130-acre, 55,000-seat stadium development would sit on land that is jointly owned by the county and the city.
The group said last month that Fortress, its financial backer, had been acquired by Japanese billionaire Masayoshi Son's tech conglomerate SoftBank for $3.3 billion.
Team owner Mark Davis formally filed for relocation in January. Nevada has approved $750 million in public money to build a $1.9 billion stadium for the Raiders in Las Vegas. But that bid suffered two major setbacks this week, when casino magnate Sheldon Adelson, pulled out of his $650 million commitment, and investor Goldman Sachs walked away.
The league is expected to vote on the move this month. Of 32 NFL team owners, 24 would have to approve the deal in order for the move to Las Vegas to happen.
Jason Cole, a closely followed writer for<a href="http://www.authenticsteelersshop.com/shop-by-players-ben-roethlisberger-jersey-c-2_3.html">http://www.authenticsteelersshop.com/shop-by-players-ben-roethlisberger-jersey-c-2_3.html</a> Bleacher Report, tweeted last week that that team was claiming it had found financing, saying " # NFL source said # Raiders exec Marc Badain told the league the team has two banks ready to loan money for the Las Vegas project."
The Raiders did not respond to a request for comment Wednesday.


Sign up, to leave a comment


Xobor Xobor Blogs