The Oakland Raiders are looking for help to build the NFL’s smallest stadium in hopes of keeping the football team in its current city. With the city’s other two professional sports franchises considering a move to other locations within the state of California, the Raiders feel it is their duty to keep the football team where it belongs. Unfortunately, the organization will need at least $300 million from the city for the 50,000 capacity stadium to be constructed.
“My primary concern is this is a city that always had three major league teams and that now there is the possibility that we will have none,” Oakland councilman Larry Reid said, according to MercuryNews.com.
A study commissioned by the Raiders revealed that the total cost of a new stadium would be approximately $800 million. The organization can come up with $300 million, while the NFL is able to contribute $200 million through the stadium loan program. However, Oakland’s tax payers will have to match what ownership is offering in order to see the stadium get built.
As of right now, there is no exact deadline on when the Raiders believe the construction could be set in motion. With that being said, they would also like to figure out as soon as possible if the city is willing to participate in the ridiculous plan.
“There is no set deadline … but we know time is not on our side, even if there isn’t a deadline,” Assistant City Administrator Fred Blackwell said, according to MercuryNews.com.
The reason why I say the idea to build a new stadium is ridiculous is because the Raiders will not generate enough money for it to be worth it. The team had the worst attendance in the league on average with 54,216 people filling the seats at home games last season. Throw in the fact that there are not any big business looking to partner up with seat licenses at the stadium and the organization has a recipe for disaster.