Raiders financial woes are preventing Josh McDaniels firing, team is 'cash poor': report
The Raiders are in last place in the AFC West and are 0-6 in one-score games
{{#rendered}} {{/rendered}}The Las Vegas Raiders are in the midst of a disappointing season under head coach Josh McDaniels.
Some have called for Mark Davis to fire McDaniels sooner rather than later, but Raiders owner said earlier this week that he would not consider firing the coach this season.
According to a report from the Los Angeles Times, Davis support of McDaniels may be coming from a place of financial necessity.
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Head coach Josh McDaniels of the Las Vegas Raiders looks on before the game against the Denver Broncos at Allegiant Stadium on October 02, 2022 in Las Vegas, Nevada. (Jeff Bottari/Getty Images)
Longtime sports journalist Bill Plaschke said on ESPN’s "Around the Horn" that he believes McDaniels will be retained as the Raiders head coach for the rest of this reason and for 2023.
He alluded to the organization being so strained financially that they cannot afford to cut ties with the 46-year-old coach.
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"Im saying right now: Josh McDaniels will be the coach this year and next year. The Raiders don’t have the money to fire him, to pay him off. They’re cash-poor," Plaschke said.
This is not the first time the Raiders cash flow problems have been report. In 2019, ESPN’s Chris Mortensen reported that team was suffering from revenue stream issues.
{{#rendered}} {{/rendered}}Mortensen said at the time that it was his understanding the Raiders declined to pursue then-free agent running back Le'Veon Bell because the franchise was not a "cash-rich team." At the time the organization was waiting to move from Oakland to Las Vegas.
Head coach Josh McDaniels (L) and owner and managing general partner Mark Davis of the Las Vegas Raiders talk before a preseason game against the New England Patriots at Allegiant Stadium on August 26, 2022 in Las Vegas, Nevada. The Raiders defeated the Patriots 23-6. (Ethan Miller/Getty Images)
It is important to note that an August 2022 report for Forbes valued the Raiders at approximately $5.1 billion entering this season.
The franchise's value increased by nearly 50% from the same report last year. The $5.1 billion valuation ranks the Raiders as the league's ninth more valuable organization, according to the Forbes report.
{{#rendered}} {{/rendered}}In 2015 when the franchise was still located in Oakland, the organization had the second-lowest value in the league.
It appears that even with after the Raiders moved into the almost $2 billion Allegiant Stadium in 2020, Davis may still not be flush with revenue. NFL franchises usually see large increases in revenue streams after the construction of a new stadium largely due to sponsorships, personal seat licenses, and clubs and suites sales.
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{{#rendered}} {{/rendered}}While many franchises are acquired by individuals who gained their wealth through various businesses in the private sector, Davis inherited the franchise from his father the legendary Al Davis.
Al Davis coached the Raiders before he became the commissioner of the American Football League. He also served as the team's general manger and owned a majority share of the franchise from 1972 until his death in 2011.
Las Vegas Raiders head coach Josh McDaniels talks with quarterback Derek Carr (4) in the second half of an NFL football game against the Tennessee Titans Sunday, Sept. 25, 2022, in Nashville, Tenn. (AP Photo/Mark Zaleski)
McDaniels signed a four-year deal with the Raiders in January. If McDaniels was terminated any time soon, the Raider would be on the hook for a sizable portion of his remaining salary.
{{#rendered}} {{/rendered}}Raiders quarterback Derek Carr was emotional during his postgame press conference on Sunday after the Indianapolis Colts had the team their seventh loss of the season.
Carr appeared to cry as he spoke to reporters and seemed to be upset with how the team's overall effort on the field.
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{{#rendered}} {{/rendered}}The Raiders acquired star wide receiver Davante Adams in a blockbuster trade during the offseason. Adams then signed a five-year, $140 million deal which made him the highest-paid wide receiver in the NFL at the time of the signing.
McDaniels inherited a roster that was expected to be much better than 2-7 after nine games.