With the clock ticking, Oakland Mayor Libby Schaaf is betting big that a combination of $600 million in private money from Ronnie Lott’s investment group, $200 million in public money and an equal amount from the National Football League will be enough to keep the stadium-hungry Raiders from moving to Las Vegas.
At this point, the deal — which is being shuttled between the Oakland City Council and the Alameda County Board of Supervisors for approval — is just a broad outline of possible funding sources. There has been no input from Raiders owner Mark Davis, who down the road may be asked to sell part of the team to Lott and his partners.
“That’s something they will talk about after the stadium deal gets done,” said one source who is privy to the talks but not authorized to speak on the record.
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