Ronnie Lott’s group has finally made its move to keep the Raiders in Oakland.
Fortress Investment Group has sent the NFL and the Raiders a formal proposal to build a new stadium for the team, according to a Sports Business Daily report. An NFL spokesman confirmed the report to Las Vegas Review-Journal’s Jon Mark Saraceno, noting that the proposal included details for a 55,000-seat stadium, worth an estimated $1.3 billion, in Alameda County.
The Oakland City Council and the Alameda County Board of Supervisors voted in mid-December to support a plan to enter into an exclusive negotiating deal with Lott’s investment team to build a new stadium for the Raiders.
Fortress’s initial plan was accepted by the Oakland council with a 7-0 vote, while the county board voted 3-1. The league, however, rejected the proposal and asked the group to resubmit it with more information.