Raiders will pay major rent increase to stay at O.co Coliseum
The Oakland Raiders will pay $3.5 million for their one-year lease deal with O.co Coliseum and a training facility in Alameda County, a major increase from the $925,000 the franchise paid last year, according to the Oakland Tribune.
The deal was reached at a meeting between the team and the Oakland-Alameda Coliseum authority on Friday. It still needs to be approved by the Alameda County Board of Supervisors and Oakland City Council.
The deal includes an option for the team to stay two additional seasons.
The increase in rent comes from the coliseum authority passing along costs for things like game day security to the Raiders.
The team is still looking at possible relocation after its bid to move to Los Angeles failed. Among the cities that reportedly have interest in becoming the home of the Raiders, Las Vegas and San Antonio have received the most attention.
Owner Mark Davis met with officials in Las Vegas last week to discuss the possibility of his team relocating to Nevada.