The Raiders would prefer to delay their move to Las Vegas until a new stadium is complete. That venue’s opening day is currently scheduled for 2020.
They hold a one-year lease option at Oakland-Alameda County Coliseum in 2018. They’ll exercise that.
The Raiders don’t have a home locked down for 2019 yet, though remaining in the Bay Area is preferred. Right where they’re currently playing, in fact.
It takes two to tango, and the Oakland Coliseum board would have to agree to another lease.
While it wasn’t always the case, Joint Powers Authority chairman Scott McKibben is now open to the idea. That includes 2019 and beyond, should the Las Vegas stadium construction be delayed.
“I believe that given the right set of economics, the potential for a lease extension for the time the Raiders would like to stay in Oakland is an open door,” McKibben told the Las Vegas Sun on Thursday. “I can’t underscore enough the fact of ‘given the appropriate economics.’ It will not be the deal that they currently have.”
The Raiders currently pay $3.5 million in rent, an amount roughly three times higher than the previous lease agreement. McKibben said in March the Oakland Coliseum operates Raiders games at a loss. At that time, he wasn’t interested in another lease extension.
Some things have changed at the Coliseum site since. Major League Baseball’s Athletics, who currently share the Coliseum, are focusing stadium efforts on a site near Laney College. They don’t estimate opening a new venue until 2023 but, at this time, wouldn’t need to build another venue on the Coliseum site.
McKibben told the Las Vegas Sun he’ll have a meaningful negotiation with the Raiders once Las Vegas stadium begins and the NFL’s teams are clear.