Well its damn near impossible for any franchise to lose money, but with the way Al runs things it may end up becoming possible. He has a knack for signing bust after bust in the draft, that takes a toll over the years. He also has to overpay players SIGNIFICANTLY to get them to come/stay in Oakland. The Raiders also have the smallest stadium in the league, yet still have a hard time filling the stands. I would love for someone like Cowher to come in, but only if he is allowed to freely do what he wants; otherwise it will end up being the same situation we have now, a puppet for a HC.
Also, a bit of information I came across recently. The Raiders extended their stadium deal (in Oakland) to 2013...the new stadium in LA is supposed to be completed around 2014...
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*EDIT* Forgot to answer the first part of your question. Yes, it is very close to the stadium, I'd say about 1/2 a mile.