Raiders near final lease deal with Coliseum officials

ALAMEDA, Calif. — Final touches on a lease allowing the Raiders to play in Oakland next season are expected to be completed in the coming days, although a crucial vote to approve the rental document might be pushed into next week, a local official said Monday.

Scott McKibben, executive director for the Oakland-Alameda County Coliseum Authority, told the Review-Journal he hopes a lease agreement will be finalized by Wednesday. He is overseeing negotiations with the Raiders on behalf of the city of Oakland and Alameda County, both of which are represented on the eight-chair Coliseum Authority committee.

After a deal is reached, the committee will assemble for a special meeting where a vote will be held in open session.

That meeting could occur as early as this Friday or late as March 6, he said.

NFL Network reported Monday that an agreement in principle exists between the Raiders and Coliseum Authority, but the characterization of such progress appears to be a matter of semanitcs. McKibben stressed there is “nothing up for approval and signature.” Last week, the Review-Journal reported that an agreement is expected to be finalized this week.

“There’s nothing new,” McKibben said Monday in a phone interview. “There’s nothing changed. We’re trying to finalize and firm up an agreement that works out for both of us.”

Some lease parameters were adjusted recently when city and county lawyers reviewed a potential lease’s language. This review process was still ongoing, McKibben said, citing a conference call with these same lawyers scheduled for later that afternoon.

LIVECAM: Monitor the progress of Las Vegas Stadium in this view looking south toward the construction site.

But rent cost is among the details considered resolved, he said. The Raiders will pay $7.5 million for rent in 2019 under the pending lease arrangement. Also, in the event the $1.8 billion Las Vegas stadium project incurs a delay, a $10.5 million team option will be included for 2020.

The Raiders are scheduled to move to Las Vegas in 2020.

Team president Marc Badain declined comment Monday on the development of talks. The NFL club, which would be playing its 41st season at the Coliseum, is expected to release a statement once a pact officially is in place.

It shouldn’t be long now.

McKibben said he and the Raiders “wouldn’t be this far down the altar if we both didn’t” believe a deal would get done.

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