The African American Sports and Entertainment Committee, led by entrepreneur Ray Bobbitt and a group of other motivated investors, is reportedly planning to launch the first Black-owned football team in NFL history. They are hoping to bring a new team to Oakland, California since the Raiders have relocated to Las Vegas.
Bobbitt, who is an East Oakland native, says their plan is not only to bring a team to Oakland but most importantly to create job opportunities and improve the community. Their letter to NFL Commissioner Roger Goodell also indicates that they want to use the Oakland Coliseum.
"We would add an educational component to the facility," he told KTVU. "We want to add a Bay Area sports and entertainment museum, and utilize the funds to help increase education in East Oakland."
More than that, the group is hoping that Oakland could host the team again to bring more equity and diversity to the NFL. He said, "Something historic in a historic city that has been a host city for 47 years... to occur in a community where people have fought for civil justice and social change for so long."
According to NFL rules, at least one of the investors is required to put up 30% of the cost of the team, which could be up to $1 billion or more.