Las Vegas Raiders

The Latest: City OKs negotiations for $1.3B Raiders deal

Updated Mar. 5, 2020 12:37 a.m. ET

OAKLAND, Calif. (AP) The Latest on a $1.3 billion stadium financing deal for the Oakland Raiders (all times local):

10:20 p.m.

The Oakland City Council has approved a resolution authorizing the city to negotiate with an investment group to build a new football stadium for the Oakland Raiders.

The vote gives the investment group anchored by Hall of Famer Ronnie Lott and former quarterback Rodney Peete the right to negotiate a formal agreement for a $1.3 billion stadium that includes $350 million in public money.

The former athletes are working with the Fortress Investment Group.

Alameda County supervisors authorized opening negotiations earlier Tuesday.

The agreement to negotiate does not include the Raiders at this stage.

Team owner Mark Davis already has committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved.

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9:00 p.m.

The Oakland City Council is taking up a proposal to open negotiations with an investment group to build a new football stadium that might sway the Oakland Raiders to stay.

The Alameda County Board of Supervisors approved the idea earlier Tuesday.

If the city council agrees, the county and city can start negotiating a formal agreement for a $1.3 billion stadium project that includes $350 million in public money.

The agreement to negotiate does not include the Raiders at this stage.

The push for a new stadium is being led by Hall of Famer Ronnie Lott and former quarterback Rodney Peete, who are working with Fortress Investment Group.

Team owner Mark Davis already has committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved.

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2 p.m.

Alameda County supervisors have approved opening negotiations for a $1.3 billion stadium project that supporters hope will keep the Oakland Raiders in town.

The Oakland City Council is scheduled to vote on the project Tuesday night. Approval by both boards is required to allow the city and county to negotiate a formal agreement for a stadium project that includes $350 million in public money.

The supervisors' vote was three yes, one abstention and one against.

The agreement to negotiate does not include the Raiders. Team owner Mark Davis already has committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved.

A move to Nevada is not certain, although a vote by the NFL on whether to allow the move is possible as soon as January. The Raiders must get approval from 24 of the 32 NFL owners to move.

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11:25 a.m.

The Alameda County Board of Supervisors is meeting to vote on a $1.3 billion stadium project that could keep the Oakland Raiders in town.

Football Hall of Famer Ronnie Lott, who is spearheading the effort, said before the hearing that they have a unique opportunity to do something that many people didn't think they could do.

Lott is working with former quarterback Rodney Peete and an investment group.

Several Raiders fans are in the room to urge the board to give its approval so administrators could then negotiate a formal agreement for a stadium project that includes $350 million in public money.

Team owner Mark Davis already has committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved.

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10 p.m.

City and county officials are expected to vote Tuesday on a deal for a $1.3 billion new stadium that supporters hope will keep the Oakland Raiders in town.

If the Alameda County Board of Supervisors and the Oakland City Council approve, administrators could then negotiate a formal agreement for a stadium project that includes $350 million in public money.

Team owner Mark Davis already committed to moving the Raiders to Las Vegas, where a $1.9 billion stadium project has been approved. Oakland Mayor Libby Schaaf vowed to continue working on a counter-proposal to try to keep the team in Oakland.

A move to Nevada is not certain, although a vote by the NFL on whether to allow the move is possible as soon as January. The Raiders must get approval from 24 of the 32 NFL owners to move.