Investment group offers to purchase Coliseum, keep Raiders in Oakland

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Ben Margot / AP

Flags fly outside the Oakland Coliseum before the start of an NFL preseason football game between the Oakland Raiders and the Tennessee Titans Saturday, Aug. 27, 2016, in Oakland, Calif.

Wed, Sep 21, 2016 (2 a.m.)

A group of investors with ties to NFL Hall of Famer Ronnie Lott is offering to purchase the Coliseum land with the hopes of keeping the Raiders in Oakland, according to a letter the group’s attorney sent to local officials last week.

The letter dated Sept. 12 arrived days before NFL Commissioner Roger Goodell expressed optimism for a stadium deal in Oakland, and meetings between local officials and an NFL executive in charge of stadium construction and franchise retention. But city hall sources said the city swiftly rejected the proposal.

Those sources late Tuesday said they view Goodell’s comment as a positive sign for an Oakland stadium deal, but that they are not moving forward with the offer from the investment group.

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