Proposed Raiders stadium would cost $800 million

July 17, 2013 at 3:02 PM
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OAKLAND, Calif., July 17 (UPI) -- A study the Oakland Raiders presented to officials in their California county says the team would likely not be able to pay for half of a 56,500-seat stadium.

David Stone of AECOM, which is advising Oakland and Alameda County officials on stadium construction, told county officials the team-commissioned study found the 56,500-seat stadium, which would be the smallest in the NFL, would cost a total of about $800 million, the Oakland Tribune reported Wednesday.

Stone said the Raiders have proposed paying $300 million toward the stadium and the NFL may offer $200 million from its stadium loan program leaving a difference of $300 million.

Councilman Larry Reid said he isn't ruling out supporting a plan to use public money toward the project.

"My primary concern is this is a city that always had three major league teams and that now there is the possibility that we will have none," he said.

The Golden State Warriors NBA team is planning to leave Oakland for San Francisco while the Oakland A's have been considering a move to San Jose, Calif.

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