Local business man to help keep Raiders in OaklandPosted: Feb 27, 2015 6:22 PM PSTUpdated: Feb 27, 2015 6:24 PM PST
SAN DIEGO (KUSI) - Pressure is mounting as both the Chargers and the Raiders look ahead to the possibility of moving to Carson.
San Diego still does not have a viable plan after 13-years, and Oakland has one, and it is financed by a San Diego businessman.
Floyd Kephart is Chairman of Renaissance Companies which advises hedge funds, private equity firms, and financial institutions from his office in Rancho Santa Fe.
Oakland's plan is a stadium and redevelopment on 200 acres of land jointly owned by the city and the county.
Floyd Kephart was hired to secure the financing which is in place. The only thing holdup up a deal is the politicians reaching agreement on the development part of the deal.
"The city and county's bureaucratic processes of agreeing between the two of them," said Kephart.
A draft agreement was circulated Thursday night, and the city has responded.
"My guess is, we end up with that agreement being done in the next two weeks. When that agreement gets done, then there will be direct negotiations with the Raiders," he said.
By contrast, the Chargers will not even see a plan for another couple of months.
Not only are the Rams well ahead of the Chargers, so are the Raiders.
"The big difference here is that we don't need voter approval. We're not borrowing any money. The Raiders are doing everything in their power to stay in Oakland," he said.
Including significant financial commitments, and a smaller 55,000 seat stadium to protect their fan base by keeping ticket prices down.
"Scale of one-to-ten, we're at an eight on being able to get this done in Oakland, and I really think it's gonna happen," he said.
If the Raiders are close to a deal, why partner with the Chargers in Carson?
Because both teams need an alternative in case any deals collapse.
Both teams have strong ties to their communities, both want to stay, but so far, neither has received the political support they feel they deserve.
It is about leverage which is why the NFL has kept Los Angeles open, to give teams leverage against their cities to get a new stadium under threat of leaving.
"That's what I think, yeah, I don't have any basis for that other than both teams made virtually the same kind of response," said Kephart.
Beyond that, the Raiders have a huge, and national brand they want to protect, and it can only be protected if they stay in Oakland.
