Raiders Announce They Will Stay In Oakland For 2016 Season

OAKLAND (CBS SF) -- The Oakland Raiders will stay at the O.co Coliseum in Oakland for at least one more year while continuing to pursue new stadium options, the team's owner said Thursday.

Raiders owner Mark Davis joined members of the Oakland Alameda County Coliseum Authority for a news conference Thursday afternoon to announce a one-year lease extension agreement for the team to stay at the stadium.

The agreement also includes two one-year lease extension options following the 2016 season.

The Raiders also announced Thursday that they will not raise ticket prices for the 11th straight year for season ticket holders at the Coliseum.

The Raiders have also hired consultant Larry MacNeil, a senior real estate executive, to the Oakland stadium development team. MacNeil spent 10 years as the Chief Financial Officer of the San Francisco 49ers and was in charge of the development of Levi's Stadium in Santa Clara.

MacNeil will represent the Raiders' interests in negotiations with the City of Oakland and Alameda County to explore opportunities for a new stadium in Oakland.

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