Raiders say they aren't selling - or leaving

The Oakland Raiders are worth $861 million, 31st amongst 32 NFL teams, according to figures compiled by Forbes Magazine last September.

But that doesn't mean the Raiders are looking to sell a portion of the franchise or move the team back to Los Angeles, team officials said Monday.

The Raiders' financial woes have been the subject of much speculation for some time. When the team failed to agree on a contract with quarterback JaMarcus Russell until the second week of the 2007 season, the Raiders' inability to pay Russell's guaranteed money was rumored to be a reason.

The Raiders denied that then and were back on the defensive after an ESPN report said the team was looking to sell 10 percent of the team to a group led by billionaire C. Dean Metropoulos, who is looking to move a team to Los Angeles.

Fans fearful the Raiders will leave Oakland after the team's lease expires following the 2010 season had their fears heightened by the ESPN report, which cited unnamed sources and did not have any comment from the Raiders.

Raiders CEO Amy Trask said there are "no financial constraints or issues" and that fans need not worry about the team being moved back to Los Angeles.

"That's the danger of unethical reporting," Trask said.

That said, the Raiders aren't raking in cash, even though last year's offseason spending spree might indicate otherwise.

The Raiders are one of the lowest-revenue teams in the NFL. Forbes reported the Raiders' 2007 revenue at $205 million, better than only seven teams.

The Raiders also play in one of the NFL's oldest stadiums, which doesn't help the revenue situation. The Oakland Coliseum opened in 1966.

"It's clear, and I think everyone accepts it, that something has to get done here with a new stadium at some point," NFL Commissioner Roger Goodell said when he visited Oakland last month.

Raiders owner Al Davis sold a 20 percent, non-controlling share of the team in October 2007. But that wasn't done because the team was going broke, Trask said.

"We've been very forthright that over a year ago the owner of the team sold a limited partnership interest in the team," Trask said. "There were no financial pressures with respect to that sale, either."

Finances aside, the Raiders are still in the market for a new head coach. To date, the Raiders haven't officially interviewed any candidates and made a phone conversation between Davis and Giants offensive coordinator Kevin Gilbride sound more like a favor.

Raiders senior executive John Herrera said Gilbride's agent contacted the Raiders.

"Al has known Kevin for a long, long time," Herrera said. "It wasn't an interview per se. It was a 90-minute conversation."

There were multiple reports former Giants coach Jim Fassel, who is reportedly interested in the Raiders' opening, will interview with St. Louis this week.

(Distributed by Scripps Howard News Service, www.scrippsnews.com.)

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