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Oakland officials refuse to subsidize new stadium

Posted May 27, 2015

Peter Fricke - The Daily Caller -

 

Oakland officials say they will not contribute any taxpayer dollars toward building a new stadium for the Raiders, even if that means the team will move back to Los Angeles.

Although Raiders owner Mark Davis and NFL Commissioner Roger Goodell have yet to receive an official response from either Oakland or Alameda County as to whether they would provide the $400 million necessary to keep the team in Oakland, recent statements by elected officials suggest the money may not be forthcoming, The San Francisco Chronicle reports.

Their reluctance seems to stem primarily from Oakland’s previous experience with stadium subsidies, which were used to finance renovations of O.co Coliseum that helped lure the Raiders back to Oakland in 1995. The team had previously moved to Los Angeles in 1982 after Oakland refused to make stadium upgrades demanded by then-owner Al Davis.

The city and county are still paying millions of dollars per year for that $200 million project, and are projected to remain on the hook for payments until 2026, according to The Los Angeles Times(RELATED: Super Bowl Shines Spotlight on Stadium Subsidies)