Oakland Raiders Score New Stadium Proposal in Bay Area

Oakland Raiders Score New Stadium Proposal in Bay Area

The Oakland Raiders are prepared to pack their bags for Las Vegas, but one private investment company is hoping to persuade the storied franchise to stay placed in Ca.

Mark Davis really wants to move his Oakland Raiders to Las Vegas, but investors in the Bay Area are hoping he reconsiders.

Fortress Investment Group, a publicly exchanged investment management firm based in New York City, is dealing with former NFL star and Hall of Fame user Ronnie Lott to preserve the Raiders in the Bay Area. This week, the company resubmitted plans to a build a new 55,000-seat arena to keep owner Mark Davis in town.

The proposal is rumored to price $1.3 billion, and will be funded through Fortress putting up $600 million, the NFL and Raiders investing $500 million, and the populous City of Oakland funding $200 million. The professional football league confirmed to news outlets that it had received the submission.

The same group formerly presented a similar proposal, but the NFL rejected it on grounds that more information had been required.

Vegas Calls Bluff

While there are many Las Vegas locals who are lower than enthused about the possibility of an NFL group calling town home, the area government largely appears to support the Oakland Raiders coming to the Mojave Desert.

Nevada has committed $750 million to building a 65,000-seat stadium that is domed steps from the Strip. The money will include raising the hotel occupancy tax in Cl Continue reading Oakland Raiders Score New Stadium Proposal in Bay Area