Take a breath, Oakland Raiders fans, all is not lost just yet.

Owner Mark Davis revealed Monday night that his organization is negotiating a one-year lease extension with the Coliseum in Oakland, California, and is expected to stick around the city for the 2016 season, ESPN reports.

"As of today, right now we are in the process of trying to negotiate a one-year extension at the Oakland Coliseum to play the 2016 season there," Davis told Tim Kawakami of the San Jose Mercury News on his "TK Show" podcast. "And after we get that done, we'll sit down and try to figure out where the future of the Raiders lies."

Davis did said that it is "not desirable" for the Raiders to remain at their current location for 2016, but "in life, you have to do things that make sense, and this absolutely makes sense."

Davis noted that his team is not trying to change the terms of their lease from last season, so it's "up to the city" when a 2016 agreement can be reached. The current lease expires on Feb. 17.

"It's always more challenging when all you're trying to do is a one-year short-term lease," Scott McKibben, the head of the Oakland-Alameda County Coliseum Authority, said to The Associated Press. "These are more difficult to get done than a five- or 10- or 20-year lease when you're getting a longer commitment from all parties. But things are moving along, and we are having productive and meaningful discussions."

The Mayor of Oakland, Libby Schaaf, also spoke to The AP on Monday and appeared committed to bringing the Raiders, who made strides under second-year quarterback Derek Carr this season, back for one more season.

"Of course I'm anxious to get them back to the table to talk about a new stadium, she said. "But I understand that their first focus is where they play next year."

Davis, who has flirted with San Antonio and Las Vegas as potential long-term landing spots for the team, said he hasn't considered any other location for the short-term other than the planned Carson, California, project, which did not receive the required votes to gain approval at a recent owners meeting.

Though the Raiders may be moving eventually, Davis said that the fans are never far from his mind.

"They have been so patient and so forgiving through all of this that it's unbelievable to me," he said.