Every Raiders fan that is determined to keep the team from moving to Las Vegas must now look to Ronnie Lott and Rodney Peete because these retired National Football League Players just might have what it takes to subvert online NFL betting odds by keeping the Raiders rooted in Oakland.
The hype surrounding Lott and Peete revolves around the fact that they understand business. They have also endeared themselves to the political leaders in the area. Admittedly, that doesn’t mean they will succeed, especially seeing as they have no concrete financial plan in place for a billion-dollar football stadium.
For those who don’t know, the Raiders want the city to build them an expensive stadium in a deal that they suggest will benefit both the team and the city; this is the only thing that could possibly keep them in Oakland.
Lott and Peete presently have ninety days to work on a project and a deal; this is part of a memorandum of understanding signed with the city and county officials. It should be noted that a separate investor called Egbert Perry offered to buy the land on which the Oakland Coliseum stands last week.
However, Mayor Libby Schaaf said she declined the $167 million offer because the agreement the city has in place with regards to the development of the land requires them to deal primarily with the Raiders and the NFL.
Handing negotiations over to an outside developer would have only complicated matters further anyway, and it isn’t like city and county officials have appraised the Coliseum land to know its worth.
One cannot ignore the debt the city incurred back in 1996 when they initiated the costly Mount Davis Renovation in an effort to lure the Raiders back from Los Angeles; it is a debt for which the city has continued to pay $11 million each year.
The city isn’t in a particularly enviable situation. Keeping in mind the departure of the Golden State Warriors, the Raiders’ move to Las Vegas would leave Oakland with very little money to pay their outstanding debts.
The city can hardly afford to repair infrastructure difficulties that the property has experienced, let alone replacing an antiquated stadium. At the moment, all eyes are on Lott and Peete, with city councilmen hoping that they can deliver a deal that benefits all the parties involved.
The pair of veteran players hasn’t yet come up with an offer; however, even Schaaf has chosen to remain upbeat about the situation. Schaaf is in a difficult position, having to mollify Raiders’ fans even while rejecting any attempts at using taxpayer money to prop up the football team.
Schaaf has previously stated that she was willing to inject $90 million into renovations and upgrades, possibly even roadway alignment. However, she has continued to ignore all talk about constructing a new stadium.
In Las Vegas, Nevada officials are taking every possible step to draw the Raiders in, going so far as to promise $750 million for a new Raiders Stadium. For the moment, the NFL continues to express support for keeping the Raiders in Oakland, though the Las Vegas offer is making that prospect more difficult by the day.