jumpman ii
Banned
- Feb 10, 2015
- 4,353
- 907
They had a chance to go half in when they were planning it. It would be like MetLife Stadium
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Coliseum developer sounds warning over Raiders' future
The head of an investor group that’s trying to build a massive development at the Oakland Coliseum complex said Thursday the Raiders football team could leave Oakland if Alameda County officials don’t get involved in negotiations soon.
Speaking to the West Oakland Commerce Association, Floyd Kephart, the lead executive of New City Development LLC, said city of Oakland officials have been “very straightforward” in working on the Coliseum City project but he said, “We don’t have that same thing from Alameda County.”
Kephart said, “I’m confused on a daily basis” about the county’s unwillingness to sign off on the proposed development so far.
Kephart, the chairman of the board of Renaissance Companies, a San Diego firm that advises hedge funds, private equity groups and financial institutions, said a development plan for the Coliseum site “has to be done in the next few months or the Raiders will leave.”
He said, “The Raiders are doing all they can” to make the project, which includes a new football stadium for the team, happen and “it would be tragic if they leave.” Kephart told the business group that Raiders owner Mark Davis called Alameda County Board of Supervisors President Scott Haggerty on Wednesday and “asked him to push this along.”
But Haggerty said he’s already talking to Davis on a weekly basis and county officials are committed to retaining all of Oakland’s pro sports teams, which are the Raiders, the A’s baseball team and the Golden State Warriors basketball team.
Alameda County’s participation is a key component for the $2 billion-plus Coliseum City project because the county and the city own about two-thirds of the 200 acres at the Coliseum site where the development is proposed. Plans call for at least one new sports stadium at the site plus housing, retail stores, hotels and housing.
Kephart said the Coliseum City project “could be the vibrant urban center that everyone envisions and include 5,700 residential units and 475,000 square feet of retail space. But he said the development “is hung up on the city and county coming together on land.”
About $106 million of outstanding debt remains on the current O.co Coliseum, which is used by both the Raiders and the A’s baseball team, but any deal to pay off the debt would depend on the county’s participation. Haggerty said, “There are implications for the taxpayers” and county and city officials need to perform “due diligence” before they sign off on the project.
The Oakland City Council recently granted a 90-day extension to New City Development on its exclusive negotiating agreement with the city to develop the project. Oakland Mayor Libby Schaaf said she is proposing that the agreement be amended to also include the county so the two government entities can work together:
“The county has got to be at the table with the city.”
Schaaf said the project hasn’t moved forward “as quickly as any of us would have liked” but she understands that the county needs time to research the development proposal before it participates in the process.
The city envisions up to three new sports venues at the site: a new football stadium for the Raiders, a new baseball park for the A’s and a new arena for Warriors basketball games and other events. But so far only the Raiders have expressed strong interest in participating in the project and the Warriors currently plan on moving to a new arena in San Francisco in the next few years.
Kephart said if the A’s commit by next year to build a new baseball stadium at the Coliseum site it would be possible to build both a new football stadium and a baseball stadium at the site in the next five years. “You could do two stadiums in five years,” he said. Kephart also said, “There is enormous support in the community” for the Coliseum City project.
A new stadium just doesn't feel right, especially how all the new stadiums look.
Raiders need a college type stadium.
Follow the money.
Oakland doesn't have the public or political will to move forward with creating a stadium for the Raiders. It's not about clashing egos or mismanagement, it is literally a matter of not having money to spend. The City is still paying for Mt. Davis, which neither the A's or Raiders utilize fully to begin with. Mark Davis has to be the least wealthy owner in the entire league. He could only dream of funding a stadium on his own (and frankly, I honestly believe that if he could fund it on his own we would already have a new stadium in Oakland. Mark loves Oakland and wants to stay, but he's also kept his eyes on LA wisely).
With a second team, moving to LA is not only financially viable, but it removes so many roadblocks that the league and other owners would throw up. A two team market? Done. Elite stadium in the second biggest market in the country? Yup. An established fanbase that's only 5-6 hours removed from it's original home? Absolutely. And count me among the natural Oakland Raider fans who will gladly make the trip south to watch the team, just as thousands of LA Raider fans have for years now.
I don't know about the rest of you, but I feel that LA and Oakland share many natural qualities that to have the Raiders move back south is a complete non-issue. I don't recognize a divide between the two.
I hope the raiders move to LA
Can't stand these idiots who are running the franchise.
They should've just cooperated with SF to build a joint stadium 3 years ago and now they wanna whine to the city and ask them to build a 1 billion dollar stadium
It's a waste of $ and waste of resources to spend another billion dollars on a stadium 30 minutes away from another.
Especially when the city doesn't have any damn money in the first place
Also they wouldn't build a joint stadium with SF, a non conference, non divisional rival
but they'll build it with the AFC west rival Chargers?!!
I'm no expert on everything going on with Coliseum City - but apparently as soon as the news broke regarding Carson some news outlets reached out to Schaff and she had no idea at the 6o'clock news. by the 10 o'clock news that night she had already spoken to Mark Davis and mentioned that things are still where they want them to be and that she is confident things will work out.And Mayor Schaff should be. Oakland is a city on the rise, but that rise needs to be aided with smart decision making by the local government. You can't guarantee a generation worth of money for a football stadium and say that you're serious about improving the day to day lives of the people in Oakland, it's just two opposing goals.