Getty Images

For at least one more year, the Raiders will remain in Oakland.

The Raiders announced today that they have agreed to a one-year lease extension to play at O.co Coliseum for the 2016 season. The agreement includes an additional two years of team options, giving the Raiders the choice to play at the Coliseum in 2017 and 2018 as well.

Raiders owner Mark Davis called the deal a “win-win situation” and said he’s optimistic that a deal can get worked out that will keep the Raiders in Oakland. The Raiders have hired real estate executive Larry MacNeil, who helped the 49ers with their move into Levi’s Stadium in Santa Clara, to help the Raiders negotiate a deal for a new stadium in Oakland.

“It gives us an opportunity to work on a permanent facility here in Oakland,” Davis said. “It gives us some certainty for this season as well as flexibility for the next two seasons. . . . My heart is here in Oakland.”

As they attempt to encourage more Bay Area fans to support them in Oakland, the Raiders have also announced that they will not raise season ticket prices.