Board approves Raiders lease to remain in Oakland in 2019

The Coliseum Authority has approved a lease agreement to keep the Raiders in Oakland for at least one more season.

The board voted Friday to approve the lease with the Raiders for 2019 with an option for 2020. The deal still must be approved by the Oakland City Council and the Alameda County Board of Supervisors, but no hang-ups are expected.

The Raiders will pay $7.5 million in rent for the Coliseum and the practice facility in Alameda in 2019 and have a $10.5 million option for 2020 in case their new $1.8 billion, 65,000-seat stadium in Las Vegas isn’t ready by then. The rent will drop by $500,000 each year if the Raiders decide to play one of their two home exhibition games at another site.