New details in Ronnie Lott Oakland Coliseum property plan

KGO logo
Saturday, December 10, 2016
Oakland Raiders hold signs saying "stay in Oakland"
The Oakland Raiders held their last home game at Coliseum in Oakland, Calif., for the season, but fans hope it won't be the last game in the Bay Area forever.

OAKLAND, Calif. (KGO) -- There are new details of the land deal put forward to try to keep the Raiders in Oakland. The term sheet offered by a group headed by NFL Hall of Famer Ronnie Lott lays out the funding for a $1.3 billion stadium on the Coliseum property.

Here are the highlights; $400 million from the Lott group; $500 million from the NFL and the Raiders; $200 million in infrastructure improvements funded by revenue bonds. It also sets aside land for an A's stadium, if needed. The economic advisor for former Oakland Mayor Elihu Harris calls the deal a major accomplishment.

FULL INTERVIEW: Bay Area legend Ronnie Lott shares plan to save Raiders with ABC7's Mike Shumann

"The NFL has wanted to see that the city of Oakland has the will and the initiative to complete big projects, and that's what its seeing, that is what is to be celebrated, and more important to do it, without putting a burden on the taxpayer," said Zennie Abraham.

The city council and the Alameda County Board of Supervisors will vote on the term sheet on Tuesday. If approved, it will be presented to NFL owners at their meeting the next day. The Raiders had no comment.

Click here for full coverage on the Oakland Raiders.