The deal includes one-year options for the 2017 and 2018 seasons.
"We've got a football franchise that wants to be here," Raiders owner Mark Davis told a news conference.
The lease needs to be approved by the Oakland City Council, the Oakland Alameda County Coliseum Authority and the Alameda County Board of Supervisors, in addition to
But Davis still wants a new stadium. If the
Meanwhile, groups interested in building stadiums in Las Vegas and San Antonio have made overtures to the Raiders in recent months.
"If people are going to call you and offer things to look at, you're going to look," Davis said. "But my heart is here in Oakland."
Davis said the Raiders have $600 million to put toward a new stadium in Oakland, including an extra $100 million that league owners promised the team last month when their plan to build a stadium with the Chargers in Carson wasn't approved.
To help in the quest for a new stadium in Oakland, the Raiders have hired Larry MacNeil, who played a key role for the