Coliseum Authority approves Raiders lease extension

Allen: 'McGloin got us TD we needed; defense couldn't hold it'

Coliseum Authority approves Raiders lease extension
November 25, 2013, 9:00 am
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The Raiders lease was set to expire in 2013, and the team was hoping to extend their stay on a short-term basis. (AP IMAGES)

Programming note: Watch Monday’s Raiders press conference with head coach Dennis Allen live on CSN California and streaming live online right here at 1pm

A one-year extension of the lease agreement between the Raiders and O.co Coliseum was approved during a Monday morning meeting of the Coliseum Authority, which governs the complex that includes the O.co Coliseum and Oracle Arena.

The Raiders will pay a $400,000 fee to use the stadium next season. 

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The Raiders lease was set to expire in 2013, and the team was hoping to extend their stay on a short-term basis. They long for a new stadium, preferably in Alameda County, and a one-year lease extension gives them the wiggle room to act quickly if a better opportunity comes along.

The Coliseum Authority also approved a two-year extension with the Athletics. The A's will pay $1.75 million annually. 

Details of the Raiders lease were not immediately known because the Coliseum Authority meeting was still in session.

Stay tuned for further updates.