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Oakland Raiders Score New Stadium Proposal in Bay Area

Tuesday, March 10th, 2020

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 convince 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 traded investment management firm based in New York City, is using 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 develop a brand new 55,000-seat arena to keep owner Mark Davis in town.

The proposal is rumored to cost $1.3 billion, and you 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 pro football league confirmed to media outlets that it had received the submission.

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

Vegas Calls Bluff

The local government largely seems to support the Oakland Raiders coming to the Mojave Desert while there are plenty of Las Vegas locals who are less than enthused about the possibility of an NFL team calling the town home.

Nevada has committed $750 million to building a 65,000-seat stadium that is domed steps from the Strip. The amount of money will come with raising the hotel occupancy (more…)