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Monday, July 15, 2013

Preliminary Studies Find Corporate Sponsorship Lacking For New Raiders Stadium

OAKLAND COLISEUM AUTHORITY | Two preliminary studies — one by the City of Oakland and Alameda County, and one by the Oakland Raiders — say the feasibility of a new stadium in Oakland for the football team would be hampered by the East Bay’s lack of corporate support. The stadium project also falls short financially due to a lack of public and private development dollars, according to a presentation of early findings offered Monday to the Oakland-Alameda County Coliseum Authority.

According to one of the reports, the Raiders may be able to only contribute $300 million toward a new stadium in Oakland. This figure includes a potential loan from the NFL. The total cost of a new stadium, based on similar new facilities in other cities, could be about $1 billion.

READ THE ENTIRE ARTICLE AT EAST BAY EXPRESS