IRS Raiders and Oakland Loan Problem: City Official Says Playing at Colosseum Pay Off | Auckland News Now

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I am very interested in questions to which I am still quite skeptical. This is a discussion of a $ 64 million loan made to the Oakland Raiders in 1995 as part of a contract to return to Oktown. From Los Angeles. The information provided is inaccurate and the idea that the Raiders will come after the Raiders is highly questionable and expressed by those who were not there when the Raiders returned to the Oakland Coliseum in 1995. As a newspaper columnist, I was an advisor to Auckland Mayor Elih Harris at the time, and he was specifically tasked with advising him on all Auckland Raider issues related to the General Lease Agreement (many from Zennie62 YouTube). This is a topic we are still talking about live on the Channel – in this case).

The conclusion differs from how it was explained. “about $ 200 Million Income / Getting Loans A 1995 loan that Oakland / Alameda County made available to the Raiders was not returned as it seemed hopeless. “Not correct.

Hence the audit paragraph of the United Energy Bureau’s financial statement of the Oakland Alameda County Colosseum. I addressed the wording issue in the report in a post about the possibility of a trial to move the Oakland Raiders to Las Vegas. This made him the Las Vegas Raiders (by location and new organization). On June 26, 2018, I wrote on my blog on Auckland News Now:

The compensation claim relates to relocation costs in the amount of $ 370 million that the Oakland Raiders must pay the NFL to relocate to Las Vegas. In this regard, this is not the first “transfer fee” that Raiders have to pay to the NFL. It is a $ 64 million “non-recourse loan” looted by Oakland City and Alameda County (later formed). Joint Oakland and New York Energy Agency during 1995 at the Alameda County Coliseum).

The so-called “non-recourse loan” was defined differently by the California Court of Appeals. In addition, the Raiders were provided with the NFL’s founding documents and the Constitution as payments, not loans. This is due to the fact that the raiders tried not to view the payment as an increase in income. The California courts objected, stating that the NFL Charter and Constitution did not allow such financial discrimination. (Watch: California Supreme Court: Oakland Raiders, Plaintiffs, Defendants, and Appellants, v. National Football League, Defendant, Mutual Petitioners and Appellants; Paul Tagriab et al., Defendants and Defendants. 61 Cal. Rptr. 3D 634 (2007), 41 calorie 4Th 624, 161 P.3d 151.)

The issue is important because the Oakland-Alameda County Colosseum’s United Energy Administration’s financial statements have been described as recent. Financial Statement June 30, 2016 “As explained in Note 4 to the underlying financial statements, the authorities received loans from Auckland Raiders in the amount of US $ 155,562,629 as of June 30, 2016. These loans increased by $ 6,890,325 in 2016. 92,366,439 dollars. The authorities have not adopted a method of verifying the recoverability of loans to raiders specified in the government’s activities and the main special income funds, and therefore. Provides a hopeless amount of reserves. The authorities did not assess the possibility of repaying these loans before the maturity date of 20 fiscal year.36. “

In other words, this so-called “non-recourse loan”, and in light of the court’s decision, is not the result of my presumption as a former Oakland City employee who accused Mayor Elihu Harris of tracking raider-related issues. This appears to be the precursor to today’s NFL relocation costs. My estimate is a so-called $ 64 million loan to the Oakland Raiders to move from Los Angeles, that’s true.lPayouts to the NFL are currently $ 218 million.

In addition, when this blogger was (again) the new economic advisor to Mayor of Auckland Elihu Harris, Ezra Laporte, then assistant city manager of Auckland, and now general secretary of the Bay Area Government Association, I especially: Said. The raiders repaid the “loan” through the remaining tenants of the Colosseum. This was discussed in 1996 as part of a meeting between myself and two other Auckland City Council officials.

As one East Bay civil servant confessed to me when we talked about the loan and why the former JPA Oakland Colosseum administration has a way to repay the loan, let alone go through a court order. Did you do nothing with what you did? One of them said, “Zenny, the truth is we’re just fuckingsneaker Up. “

From this blogger’s point of view, the obstacles were not only in the JPA’s Oakland Coliseum, but also in Oakland City and Alameda County. In the end, Oakland City and Alameda County formed the conditions for the loan to be repaid to bring the Raiders back to Oakland. However, while the Oakland Raiders were intertwined in and out of the courtroom, the same individual was unable to provide collective follow-up on the matter. As of this writing, the problem of pointless follow-up still exists.

1996 Coliseum JPA on Raider Loan Situation Today After Receiving the 2020 Raider Training Camp Raider Certification Certificate.

The entry read above Auckland News, June 26NS, 2018.. At the time of this writing, little has been done to change this, but the steps taken in the past year are very important. In 2020, the Coliseum JPA and the Raiders agreed on a so-called “certificate of closure” for the $ 10 million settlement. A non-recourse loan to Silver and Black helped build the Auckland Raiders’ headquarters and training center in Alameda, County.

The idea is simple, according to Alameda County Administrator Susan Muranishi and Oakland City Administrator Ed Raiskin. Report to the Coliseum JPA Board of Directors July 1, 2020When interest was charged, the Raiders could not afford to repay a total of $ 10 million in non-recourse loans. The idea in the language of the county and the city was this:

By letter dated February 8, 2020
Having the opportunity to play football at the Colosseum during the 2020-2021 football season,
Raiders continue to use training facilities in Alameda for up to 36 months.
We pay monthly rent as required by Additional Number 7. As a result, the Raiders
We have provided a termination certificate to report the training center as a tenant to Auckland and Alameda County. Typically, each has an indivisible interest rate of 50%. The Alameda County Board of Supervisors passed Resolution # R-2020-102 on March 17, 2020 and accepted a termination certificate for record. The former interim Oakland City administrator enacted the Certificate of Acceptance on May 4, 2020 and accepted the record of the termination certificate previously approved by City Council Resolution 87585 on March 21, 2019. Rice Field.

So given this presentation and the payoffs to the Raiders of the city and county of Alameda, just playing the Colosseum since 1995, one of the considerations Silver and Black can make is the economics of the Raiders game. This is a blow. Colosseums of all those years have been counted. Oakland has not been researched, but one study found that Las Vegas makes $ 620 million a year from raiders thanks to raider influence in the San Francisco Bay Area and Oakland. You just need to know. big.

Given the city and county’s termination certificate model, it would be foolish to involve the IRS in a non-recourse debt service, which clearly has a way to address the issue.

So I believe the IRS has nothing to do with this issue and may be someone who is not familiar with the technology in question but has something to do with the NFL (which may be a different reporter). See an idea, then post it and see the reaction.

I don’t think the wave of Las Vegas Raiders leaving has anything to do with this Oakland issue. For the Oakland problem, the best solution seems to be to draw up another certificate of the cessation of the Colosseum itself. Indeed, if you want to see NFL football again in the future, the City of Oakland really needs to think about it.

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