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The Raiders decision to stay in Oakland for the 2016 season is going to cost them some serious money.

The team agreed to pay $3.5 million in rent at O.co Coliseum for the upcoming season, an amount that's almost four times what the Raiders paid in 2015. Last year, the cost of rent was $925,000.

The Oakland-Alameda County Coliseum Authority, the entity that runs O.co, approved the change on Friday, according to the Bay Area News Group. The Raiders and the stadium authority originally agreed to the lease terms in February; however, the deal wasn't finalized until Friday afternoon.

The upside for the Raiders is that they get a series of one-year contracts.

The new lease includes two one-year options for the Raiders, which means the team could conceivably stay in Oakland through the end of the 2018 season, or they could leave after 2016. Both 2017 and 2018 are option years.

The upside for the Coliseum authority is that they get more money to help defray costs on things like gameday security, executive director Scott McKibben explained.

"We're more or less trying to pass along some of these (costs) to the Raiders which is not unlike any other NFL team," McKibben told the Bay Area News Group. "I spent a lot of time visiting with a lot of other NFL teams and this has been customary throughout the league. And quite honestly at the end of the day the Raiders were very cooperative with us on that."

The giant rent increase might only last for one year, because the Raiders could leave after the 2016 season. If the Chargers decide to stay in San Diego, then the Raiders will have the option to move to Los Angeles starting in January 2017.

If the Raiders decide to move, at least one Oakland city council member would be glad to help them.

"I'm ready to kiss and say goodbye and help him pack his bags," councilman Noel Gallo told the Bay Area News Group.

The Raiders just got hit with a huge rent increase in Oakland. (USATSI)
The Raiders just got hit with a huge rent increase in Oakland. (USATSI)