The Oakland Raiders stadium situation remains fairly nebulous, but Levi's Stadium might not be entirely off the table. While the Raiders figure out their stadium plans, San Francisco 49ers CEO Jed York seemed to leave the door open to sharing Levi's Stadium for some undetermined period of time.
"It's up to @RAIDERS to decide what they want to do. We built the stadium in Santa Clara to hold two teams" @JedYork on OAK sharing Stadium
— Chris Law (@ChrisLaw) January 28, 2016
The Raiders were among the three teams competing to move to Los Angeles, and for the time being, Oakland has lost out. The NFL approved plans for the St. Louis Rams to move, and has given the San Diego Chargers the first option to join the Rams in their new stadium. If the Chargers do not accept by early next year, then the Raiders would get an opportunity.
As York pointed out, Levi's Stadium has the capacity for two teams, and the term sheet with the city includes a section about a sub-tenant. For the Raiders, Levi's Stadium could provide a short-term option if they do end up leaving town. If they get a deal done to move to LA or San Diego (an option if the Chargers move), Levi's Stadium could provide a place for them to play while a new stadium is built.
The Raiders will not be making a permanent move to Santa Clara. They'll want to find their own stadium that can be a revenue-generating machine. They could do fine moving into Levi's Stadium, but it would be nothing compared to what they could do at a stadium of their own.
We'll start to get a better handle on this situation once the Chargers figure out their own situation. Speculation has been rampant about where they might end up, and they have all year to make a decision. My guess is we hear something sooner rather than later. Once that is finalized, then the Raiders situation will ramp up to some degree.