The announcement was made about an hour after Gruden had finished working as an analyst at the National Football League wild-card game between Tennessee and Kansas City on Saturday.
Gruden replaces Jack Del Rio, who left the Raiders on December 31 after three years.
Gruden is returning for a second stint as coach of the Raiders after being traded to Tampa Bay following the 2001 season.
Virginia ticket worth $1M in Mega Millions drawing Friday
The Mega Millions jackpot now resets to its starting amount of $40 million ($25 million cash) for the next draw on January 9. The Powerball jackpot also surged, sitting at $550 million, with a $348 million cash option, after no victor Wednesday.
The team reportedly offered Gruden an ownership stake in the team if he accepted the coaching position, but who needs an ownership stake when you can have $100 million in cold, hard cash instead?
Gruden was last on the Raiders sideline during a New England game on January 19, 2002.
The defensive line struggles with defense coordinator Ken Norton Jr., leading to a late-season firing and replacement with John Pagano.
The Buccaneers, with Gruden, won Super Bowl XXXVII on January 26, 2003 (48-21).
U.S. places Pakistan on watch list for 'severe' violations of religious freedom
Royce, did, however, say he wanted Vietnam to be on the list. "The administration is right to make this a priority". Sudan has also been severally accused of repressing religious freedoms especially of non-Muslims.
In 2006, former owner Al Davis hired Art Shell, after firing him the first time. In his four years with the Redskins, Jay has led the team to one playoff berth and a record of 28-35.
It's official, Jon, even if the Raiders haven't yet issued a statement. In 2009, Gruden got behind the ESPN color analyst desk for Monday Night Football.
Gruden has not coached since 2008 and has been working as an National Football League television analyst for the last nine years. You might be familiar with "Gruden's QB Camp", which was as segment on ESPN where Gruden would interview college quarterbacks entering the NFL Draft.
Gruden's contract extension with ESPN is through 2021, however, he was given a warm send-off from the sports broadcasting company.
Unemployment drops to lowest rate in more than 40 years
The two-year fell 3 cents to yield 1.70 per cent and the 10-year declined 26 cents to yield 2.083 per cent. The Red Deer area unemployment rate in December 2016 was 8.0 per cent.