The Oakland Raiders have a home for next season, they will not be going anywhere. A one year lease extension was approved by the Coliseum Authority which is the governing body for the O.Co Coliseum and the Oracle Arena, as reported by Scott Bair of CSN Bay Area. The Raiders were still in need of a temporary fix as they figure out what they are going to do about getting a new stadium built.
The main reason for the agreement on the extension is because they also got a one year extension for the planning of Coliseum City, one of the proposals that is attempting to get the Raiders a new stadium they desperately need. They recently had new private investors get involved with the plan so they needed the planning time extension for the new investors to do their own reports and planning for the area.
Though this is not the permanent fix that the Raiders are waiting for it does solve their immediate problem as their current lease was set to expire at the end of this year. It was important to extend that lease before its expiration so that they did not end up being a football team without a football field.
The Coliseum Authority also has some news for you baseball fans out there, they agreed to a 2 year lease extension with the Oakland Athletics as well. This is actually very good news too because it gives them more time to try and negotiate a new deal to keep them involved with the Coliseum City plan. That plan centers on new stadiums for any of the three major sports teams in the Oakland area and though it only requires at least one to stay, it would be much better to get 2 or even all 3 to agree to stay.
The details of the lease for the Raiders was not disclosed at this time. It is only for 1 year as of right now so that it gives them more flexibility in deciding their options moving forward. They absolutely want to stay in Alameda County and are doing what they can to make that a reality, but the one year lease gives them the opportunity to move quickly on any proposition that would happen to come up.