Late Tuesday night, the Oakland City Council voted to move forward with the proposal to build a new stadium at the existing Coliseum site, which would keep the Raiders in Oakland. Earlier in the day, the Alameda County Board of Supervisors also approved the plan.
The proposal calls for a $1.3 billion in funds to build a 55,000 seat stadium, with the money coming from several different avenues. Mark Davis and the team would be asked to contribute $500 million, the Ronnie Lott Group would pitch-in $400 million, the NFL would add $300 million — a commitment they made when NFL Owners rejected the Raiders bid to relocate to Los Angeles — and the city of Oakland would contribute $200 million, which they say will not put taxpayer money at risk.