Raiders agree to lease extension that keeps them in Oakland for at least one more year

Four weeks after being stymied in their effort to move to Los Angeles, the Raiders agreed to a one-year lease extension to remain at the Oakland Coliseum on Thursday.

Raiders owner Mark Davis had been mulling multiple options to move his team since being passed over by the NFL’s other owners to relocate the Raiders to Southern California.

When asked if he would still make overtures to other cities about moving the Raiders, Davis said in a news conference, “This is about today and the future and the lease we just signed with the city of Oakland. It gives us an opportunity to work on a permanent facility for the Raiders here in Oakland, and that’s where we’re going to keep them.”

The St. Louis Rams were approved to move to Los Angeles in January, while the San Diego Chargers have an option to join the Rams. At the time, Davis bemoaned that his team “came in third” in the race to LA.

The agreement with the Oakland-Alameda County Coliseum Joint Powers Authority guarantees that the Raiders will play the 2016 season in the same stadium they have called home since 1995. It also carries two one-year team options.

“I’ll term this as a win-win situation,” Davis said. “For the city of Oakland: The mayor when she presented in front of the National Football League owners, she said that the one thing they needed was time and that if they had more time, they could get something done with the Raiders in Oakland. And for the Raiders: It gives us some certainty for this season and some flexibility in the coming seasons.”

Davis noted that having a stadium deal in place for the upcoming season was crucial for the team as it heads into free agency, which begins March 9.

The deal still needs the approval of the Oakland City Council, Alameda County Board of Supervisors and NFL owners.

The Raiders retained real estate executive Larry MacNeil as a consultant to the Oakland stadium development team to negotiate with the city and county governments. MacNeil was previously the chief financial officer for the San Francisco 49ers and had a hand in the development of Levi’s Stadium in Santa Clara.

S.F. Examiner Staff Writer Jacob C. Palmer contributed to this report.

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