We are now into June. That means the ‘deliverable' date which Mark Davis has placed on the Coliseum authority to have a plan in place is less than three weeks away. June 21 is that date and what needs to be presented by then is a plausible means by which to bridge the funding gap of some $400 million.
Where that funding gap comes from is the difference between the $550 million the Raiders ($300 million) and the NFL ($250 million) can provide and the estimated $900 million cost of the Raiders new stadium.
In the May owners meetings, the league approved a raise in the money available for a new stadium to rise from $200 million to $250 million, which helps some, though doesn't solve anything.
Recently Oakland mayor Libby Schaff reiterated that money will not be made available through public funds. This has been expected all along due to the public still paying off the renovations made to the Oakland Coliseum in the late 90s.
Presenting the plans to bridge that gap will be Floyd Kephart who will be tasked with revealing just how this is to be at all possible.
"They are attempting to come up with that $400 million gap through some type of a real estate development deal," Davis told ESPN's John Clayton last week. "By June 21, they're supposed to come with a financing plan to the city and the county and then to us. We'll see if it's a doable deal or not. We're hoping that it is."
The $900 million figure is a far cry from the $1.7 billion price tag that is estimated to build the shared stadium in Carson California. The Oakland stadium would also be built to fit far fewer people - approximately 55 thousand proposed. Not a dream stadium like the one planned in Carson, but it would at least be new.
"If we were to be in Oakland, we don't really need to have all the bells and whistles on the stadium," Davis said. "What we want is a football stadium. We don't need massive clubs and things of that nature. The three things that are most important to me in a stadium up here would be ingress, egress and parking. . . If we have those things and were able to build a football stadium, similar to Seattle or something of that nature, we'd be more than happy."
Thus far, plans for even the meager stadium have not been coming together. Roger Goodell spoke at the owners meetings and was disappointed that no plan had been presented to the league. This after NFL vice president Eric Grubbman has consistently said it seemed like Oakland was making no progress at all.
On June 21, we will find out definitively if Kephart has been able to show progress in his plans. But if he can't, it's on to plan B for Oakland according to Executive Vice President of Oakland-Alameda County Coliseum Authority Scott McKibben.
"If a deal with Floyd Kephart doesn't happen, we are open to other options," McKibben told Bill Williamson of ESPN.com. "And we are prepared to do it quickly if that occurs."
This does not mean they have even discussed a specific backup plan. It simply means the deadline of June 21 isn't the absolute day of reckoning.
There may not be a lot of faith at this point that Kephart will be able to deliver anything tangible by the deadline. If his plan fails, the OACCA will be ready to pick things up and keep trying different options. It's that or give up and let the Raiders leave for Southern California. And giving up is not an option right now.