A group of investors with ties to Ronnie Lott is offering to purchase the Coliseum land with the hopes of keeping the Raiders in Oakland.
Roger Goodell has expressed optimism for a stadium deal in Oakland.
Sources late Tuesday said they view Goodell’s comment as a positive sign for an Oakland stadium deal, but that they are not moving forward with the offer from the investment group.
In the letter of intent, Milwaukee sports, real estate and business law attorney Martin J. Greenberg said his clients, Stadium Real Estate Partners, LLC and its master developer, Egbert Perry’s The Integral Group, are offering to purchase the Coliseum to renovate it or build a state-of-the-art sports facility.
The group proposes purchasing the Coliseum land — which includes Oracle Arena and other nearby properties — for $167.3 million, which accounts for bond obligations owed and prepayment penalties.