Developer: Raiders stadium in Oakland, California, feasible
Raiders fan Sergio Gutierrez, right, joins football fans celebrating a proposed NFL football stadium by the owners of the San Diego Chargers and Oakland Raiders, during a news conference in Carson, Calif., on Friday, Feb. 20, 2015.
OAKLAND, Calif. (AP) — A San Diego businessman says his latest plan for a new Raiders stadium in the city of Oakland has a 50-50 chance of succeeding, but he's revealing little else about it.
Floyd Kephart's proposal first called for the Raiders, the NFL and future stadium revenues to finance the proposed $900 million facility.
The Oakland Tribune reports an undeterred Kephart refused Tuesday to release his latest proposal, but hinted at several changes from his original plan.
He says that there would be no attempt from his investors to purchase a piece of the Raiders. Originally, he proposed the team selling a 20 percent stake for $200 million with half of the sale price going toward stadium construction.
The Raiders also are working with the San Diego Chargers on a $1.7 billion stadium in the Los Angeles suburb of Carson.