Oakland, Raiders Close To Signing Deal To Build New Stadium

OAKLAND (CBSLA.com) — Rumors of the Oakland Raiders coming back to Los Angeles could soon be laid to rest.

According to the San Francisco Chronicle, Oakland has a deal in place for a new stadium for Mark Davis' Raiders.

Oakland would give the team free land upon which to build a stadium and would pay off the $120 million dollars owed toward their current stadium, O. Co Coliseum.

"I expect it to be executed soon," said Zach Wasserman, an attorney for Coliseum City.

If the stadium is built, it will be worth $900 million to $1.2 billion.

The Raiders' lease at the Oakland coliseum expires after this season, at which point the team can move wherever they find the best deal.

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