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Thursday, October 10, 2013

NFL's Concern Over Coliseum City Also Centers On Dubai Investor

Rashid Al Malik
COLISEUM CITY | A report in the San Francisco Chronicle Wednesday says National Football League officials "rolled their eyes" when asked about the proposed Coliseum City development. However, sources who attended the meeting last month between Coliseum Authority officials, the Raiders and the NFL told The Citizen the real target of their ambivalence is directed at one of the project's newest investors, Rashid Al Malik, a wealthy financier from Dubai.

It seems the appearance of investors from the oil-soaked emirates is something of a running joke among NFL executives. Any time a NFL stadium project arises or a team is up for sale, they appear. Apparently the attention derived from the NFL appeals to the vanity of some of the excruciatingly wealthy in Dubai who crave high-profile projects tied to popular western culture.

Despite the potential for Al Malik being another of these attention-seekers, the comment by the NFL official did not discount that his interest and potential to help fund the large-scale project is anything but legitimate, just that they often fail to pan out.

It should also be noted during an Oakland City Council committee hearing this week over an extension of the Coliseum City exclusive negotiating agreement, Al Malik or his firm was rarely mentioned during the discussion. Of the two new well-financed investors, the focus of the staff was clearly on Colony Capital LLC, one of the world's largest private equity firms.

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Don Perata conceding the 2010 Oakland
mayoral race to Jean Quan.
The excursion by Raiders owner Mark Davis to a potential stadium site in Concord is not viewed by the Coliseum Authority as anything but a willingness by the blond bowl-cut-styled owner to listen any and all offers presented to the team. Whether a stadium is built in Concord or Oakland, there still remains a gaping $600 million difference between the cost of a new football stadium and the amount the Raiders and the NFL are ready to pony up. It's not likely Contra Costa County has that kind of money to throw around, or voter exuberance for a tax or bond measure, either. And never mind, the potential site at the Concord Naval Weapons Station is likely an environmental mess.

But, one other point with the trip to Concord that is upsetting some in Oakland is who rode shotgun for the ride. Don Perata was mentioned in reports as a Raiders consultant who also toured the site with Davis and the mayor of Concord. As a former Alameda County supervisor, Perata, in 1995, helped engineer the return of the Raiders from Los Angeles on the back of a failed personal seat license scheme and ultimately saddled the city and county with $100 million in debt, which the cash-strapped city is still paying. In fact, the debacle and large unpaid balance for the Coliseum's Mount Davis remains a significant barrier for building any future facilities at the complex. To make matters worse, the upper level of the hulking outfield structure has been tarped off by both the A's and the Raiders, rendering them more useful as a ski jumping platform.

CORRECTION: Perata's involvement in bringing the Raiders back to Oakland followed his stint as Alameda County supervisor.

14 comments :

As far as flip-flopping goes Swalwell taken so many different
positions on so many topics he can't even remember them all.
Just check out the local papers and the ebcitizen. Tavares
even did more than one article on his flip-flops. He told people
he was for the chained CPI, then he was against it. He told
people he was for changes to Social Security, then he was
against them. Not a good track record on consumer bills after
he took corporate money either. Flip-flop, flip-flop, flip-flop.

Fact Check: Perata was never a member of the Oakland City Council. He might have controlled it from behind the scenes, but was never a member.

Perata was not a member of the Oakland City Council in 1995!

You are such a doofus it's really funny Swalwell staffer. I don't
know who is more incompetent----you or your boss. I do know
you are more disturbed and really need to seek help. When
you pretend to be Ellen Corbett to make point only you
understand, it's really unbelievable. I guess you never will be
able to defend Swalwell's flip-flops and finally realize that in
2014 the game will be over for the two of you. Wait, Eric just
called and conceited the election to Ellen Corbett after
apologizing for his staffer who made the racist and sexist
remarks.

Matters not who the players are, that is the owner choice. Although not sure what Perata brings to the table as a former politician. He and his daughter charge a lot for supposed access which can be obtained without their very expensive services. Like the idea of the entertainment/sports/housing commercial village for this area. Thanks to the tenacity of Larry Reid, the process has bee started with the new residential uses (albeit affordable) near the Bart Station. Ideas are not new or novel, many have been proposed before. Having some deep legal pockets, no mater Middle Eastern on Asian or anyone else is a good start on this most recent proposal. Its has all the right ingredients: transit, proximity to Freeway, undeveloped land a local labor force, to generate lots of jobs and tax revenue and should far exceed associated staff costs.

Go for it Oakland

As far as flip-flopping goes Swalwell taken so many different
positions on so many topics he can't even remember them all.
Just check out the local papers and the ebcitizen. Tavares
even did more than one article on his flip-flops. He told people
he was for the chained CPI, then he was against it. He told
people he was for changes to Social Security, then he was
against them. Not a good track record on consumer bills after
he took corporate money either. Flip-flop, flip-flop, flip-flop.

Deep financial pockets are needed. The potential is great. South of Market, ATT park and surrounds are a good example of the possibilities. Lack of vision by some can certainly stop needed progress.


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