San Diego, CA (My Sportsbook) - Oakland appears ready to turn over the keys of a rebuilding project to a rival assistant coach and Hall of Fame receiver, as Chargers wide receivers coach James Lofton is reportedly on the verge of becoming the Raiders next head coach.

The San Diego Union-Tribune reported Tuesday night that the 50-year-old Lofton and the Raiders are working on the details of a contract. Lofton's interview initially satisfied the Rooney Rule, which requires each franchise to formally interview a minority candidate for a head coaching vacancy.

The former Buffalo Bills wide receiver also interviewed for the position last season prior to Art Shell's hiring. Shell's second coaching stint with the Raiders was a brief one, lasting only through a tumultuous 2-14 season.

The Chargers receivers coach since 2002, Lofton was also a finalist for the Stanford head coaching job that went to Jim Harbaugh last month. Along with Oakland, Lofton spoke with his former team last season before it hired Dick Jauron.

However, Lofton's hiring isn't a done deal, according to the Union-Tribune. Although he could be named head coach as early as Wednesday, a league source cautioned the newspaper, "You never know with these things."

The Raiders have had five head coaches since moving back to Oakland from Los Angeles prior to the 1995 season, with Jon Gruden the only one to leave with a winning record.