Raiders back out of lease proposal for 2019 season
Thanks to the lawsuit imposed on them the day before, the Raiders backed out of their proposed lease with the Oakland Colieum on Wednesday. In fact, the tentative lease included the 2020 NFL season, but only if the new domed stadium in Las Vegas was not ready in time.
Currently, the Raiders pay only $3.5 million a season to lease the Coliseum, so the proposed $7.5 million deal would have been a major raise for the City. In addition, if the stadium in Las Vegas was not ready, the Raiders were willing to pay $9.5 million for the 2020 season, so that is a lot of cash missed out on by Oakland.
As it stands, the Raiders do not have any place to play in 2019, though there should be plenty of options on the table. They will find a place to pay, and you have to think that the City of Oakland, and the incredible fan base in Oakland are the ones who really lose with this tentative deal going south.