Oakland Raiders Will Not Use Investor Money For Coliseum City

Oakland Raiders Will Not Use Investor Money For Coliseum City - Video

Oakland Raiders Will Not Use Investor Money For Coliseum City The latest news from those who know is that the Oakland Raiders have no intention of using money from a proposed sale of part of the organization to help build Floyd Kephart and New City Development LLC's version of Coliseum City. Instead, I'm told that the Raiders's Mark Davis intends to use that money to pay off other investors in some effort to gain more control of the team. That's big news and runs counter to media reports that such was the idea. While it certainly puts a crimp in New City Development LLC's version of Coliseum City, the concept I came up with does not require it. Indeed, under the base scenario I have created, the Raiders would contribute approximately $488 million from various sources, from luxury boxes and NFL G4 Loan money to a straight cash contribution and part of parking revenue, and all over a 40-year-bond-period. That news would seem to place the Floyd Kephart version of Coliseum City in trouble as it stands. But I want to make one thing clear: I don't want Mr. Kephart out of the Coliseum City project, I just want to see it go back to the original, doable, plan. One the JPA can afford to take on with a lease revenue bond issue. Stay tuned.
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