The Oakland, Calif. City Council approved a resolution late Tuesday authorizing the city to negotiate with an investment group headed by Hall of Famer Ronnie Lott and former quarterback Rodney Peete to build a new football stadium for the Raiders.
The resolution, which is non-binding, calls for $350 million in public money to be used for the stadium.
"I think the intentions are good,” NFL executive vice president Eric Grubman told USA Today. “But I don’t think there’s been any progress that suggests a breakthrough anytime soon.”
Last year, a Raiders stadium proposal involving businessman Floyd Kephart failed.