Owner Mark Davis confirmed the team would also have the option to extend the lease through 2017 and 2018, per Jimmy Durkin of the Bay Area News Group. He also added the team would be paying an increased rent, though the fans wouldn't see a rise in ticket prices, according to Scott Bair of CSN California.
Davis called the deal a "win-win," per Levi Damien of SB Nation.
The Raiders have the option to move to Los Angeles in 2017 if the San Diego Chargers ultimately don't relocate there, per NFL.com. They were without a home for next season until coming to this agreement with O.Co Coliseum.
Future options for the organization outside of residing in Oakland or Los Angeles include relocating to Las Vegas, San Antonio, San Diego (if the Chargers relocate), Sacramento or sharing a stadium with the MLB's San Francisco Giants, according to Mike Florio of Pro Football Talk.
There is apparently little interest in the Raiders and San Francisco 49ers sharing a stadium, however, per Florio.
"We want to stay in Oakland, but we need help," Davis said, per Bair.
In fact, Davis said until the Oakland Athletics, who share a stadium with the Raiders, make a decision on their future, the team's "hands are tied," per Bair.
Susan Slusser of the San Francisco Chronicle passed along a statement from the A's regarding the new lease:
Susan Slusser @susanslusser
The #Athletics official statement: https://t.co/IGMDTEGbhA2016-2-12 00:59:29
Davis announced the team hired Larry MacNeil as they explore options for a new stadium, per Durkin:
Jimmy Durkin @Jimmy_Durkin
#Raiders are hiring Larry MacNeil to their stadium development team. He worked with the #49ers on building Levi's Stadium.2016-2-11 23:06:09
The Raiders spent their first 22 seasons as an organization in Oakland (1960-81) before moving to Los Angeles for 13 years. The team then returned to Oakland in 1995, where it has been since.
But the Raiders were one of three organizations, including the then-St. Louis Rams and the Chargers, that were keen to bring an NFL franchise back to Los Angeles. The Rams' relocation was approved in January, and the team will begin playing in Los Angeles in 2016.
The Raiders may ultimately end up in Los Angeles for the second time in team history, but for at least one more season, the team will be remaining in Oakland.
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