NFL’s Grubman Sounds Raiders Coliseum City Death – Video

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NFL’s Grubman Sounds Raiders Coliseum City Death – Video

NFL’s Grubman Sounds Raiders Coliseum City Death

Eric Grubman just made the comment that may have killed Coliseum City as we know it.

Speaking to the San Diego Citizen Stadium Advisory Group on Monday, Grubman said that any stadium project that was going to depend on development financing would take too long and bringing in a developer would just mean “another mouth to feed” according to the San Diego Times Union.

That spells toast for Coliseum City which needs a developer and has 800 acres of land for buildings that would finance a stadium for the Raiders and the Oakland A’s.

Oakland needs a plan B. But also the NFL once again is forcing public money use, where it can.  I say that because the development-based approach was specifically developed long ago to get around the need for large, public-backed bond issues.  Taking that option away, as Grubman seems to report is being done here, leaves the public money option as the only viable one given the stadium’s projected cost estimates.

Mr. Grubman’s reportedly set to meet with the Oakland Raiders this morning.

Stay tuned.

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