Oakland dumping Coliseum development: What’s next for Raiders?

Oakland officials are expected to pull the plug next week on the ambitious Coliseum City development plan that was intended to lay the groundwork for new stadiums for both the Raiders and A’s.

The idea was to put together a public-private partnership that would transform the Coliseum site into a mega-sports, retail, tech and housing center that would bring as many as 32,000 jobs to the area.

Persuading someone to finance the plan, however, proved to be as elusive as a Raiders winning season — despite the city spending $3.5 million on various studies.

Kephart couldn’t deliver on his financing promises, but the fact that the City Council handed him exclusive negotiation rights kept the city from looking elsewhere as the Raiders, in particular, turned a wandering eye to other cities.

Oakland Mayor Libby Schaaf said one of the biggest challenges will be to convince Raiders owner Mark Davis that there’s no way the city can pick up the tab for a $1 billion, football-only stadium — and that he may have to take on some new partners if he wants to finance a deal.