Ronnie Lott-led group campaigns to keep Raiders in Oakland after Vegas setback

The Oakland Raiders' potential move to Las Vegas took a significant blow Tuesday when billionaire Sheldon Adelson and his family withdrew as prospective investors in a proposed $1.9-billion stadium.

The decision has left the Raiders with no clear route to Sin City, and an investment group led by former NFL player Ronnie Lott was quick to seize on the opportunity in a statement released Tuesday:

We stand ready to work with the team and NFL to keep the Raiders here at home. We have the land available at the existing Coliseum site following the actions of the City of Oakland and Alameda County last December. We have a strong financing partner in Fortress Investment Group. We have an additional $100 million due to the NFL incentive to keep the Raiders in Oakland. And of course, we have the best fans in the world right here in the heart of Raider Nation. Add to all that a diverse and fast growing community, a top 10 television market, and more Fortune 500 companies than any region in the western United States. Bottom line, if the Raiders want to stay in Oakland, we are more than ready to be a partner in making that happen.

Lott's group has the backing of the city of Oakland, but hasn't appeared to be a realistic option, with the team apparently set on relocation. However, their proposal might have become a more realistic option considering the magnitude of the setback.

"This is not a wrench in the wheel, the wheel fell off," Clark County Commission chair Steve Sisolak told The Nevada Independent. "This is an enormous setback, in my opinion."

The Raiders' alternative funding option is Goldman Sachs, though the team will likely still need to find someone else to construct and operate the proposed stadium.