'Memba when Penthouse made an offer to the Oakland Raiderettes for a racy photo shoot?? Well, one of the girls actually contacted the mag and engaged in "talks" for a pictorial ... TMZ Sports has learned.
We broke the story ... Penthouse made the offer to pay the ladies a fair income in the wake of a federal investigation that the women were being significantly underpaid.
Now, sources connected to the situation tell us ... one of the cheerleaders contacted Penthouse to try and negotiate a deal.
We're told both sides made a serious effort to get a deal done ... but in the end, it just didn't work out.
Just like the Raiders ... there was excitement ... there was potential ... but in the end, everyone was disappointed.