An investment group seeking to build a new stadium for the Oakland Raiders submitted a formal plan to the NFL, reports Sports Business Daily.
According to the multiple report, the Fortress Investment Group submitted the proposal to the league within the past 10 days.
In December, the Oakland, Calif. City Council approved a resolution authorizing the city to negotiate with an investment group headed by Hall of Famer Ronnie Lott and former quarterback Rodney Peete to build a new football stadium for the Raiders. That non-binding resolution called for $350 million in public money to be used for the stadium.