Former NFL players, investment group seeking stadium deal for Oakland
OAKLAND, Calif. (AP) _ 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.