Raiders want $800 million stadium in Oakland
City councilman Larry Reid told the Mercury News that public money would likely be needed to help cover costs for a new Raiders stadium. (AP)
A Raiders-commissioned study revealed enough demand to build a new, 56,500-seat stadium at the current site of the Oakland-Alameda Stadium Complex.
The San Jose Mercury News reports the new facility would cost around $800 million according to AECON, the company that is currently advising city and county officials on a new stadium plan. If built, the stadium would be the smallest in the NFL.
The report says the Raiders have proposed putting around $300 million towards the project. That would still leave the club short $300 million, assuming the NFL provided $200 million from its stadium loan program. City councilman Larry Reid told the Mercury News that public money would likely be needed to help cover costs. He also said he would consider supporting the plan.
"My primary concern is this is a city that always had three major league teams and that now there is the possibility that we will have none."
The Warriors are planning for a new San Francisco arena in 2017, and the City of San Jose has filed a suit against Major League Baseball in an attempt to move the A's south.
A proposed 75,000 seat football stadium in the City of Industry in Southern California could also potentially lure the Raiders.