Report: Oakland makes Coliseum lease extension offer to A's Originally aired on NBC Sports Bay Area
The Athletics may have a future in Oakland after all. Even if it's temporary.
ESPN's Tim Keown reports that Oakland has made an offer to A's ownership to extend the team's Coliseum lease beyond the 2024 MLB season, according to documents obtained by the network and San Francisco's KGO. Reported.
The offer is for five years, with an option to opt out after the third year, and requires the Athletics to pay a $97 million “extension fee,” which the team will still pay if the opt-out is exercised, according to the document. It is said that there is an obligation. , and will reportedly pay down Coliseum's $170 million structural deficit. The organization is also required to pay for the cost of converting the stadium to accommodate Oakland Roots SC and sell 50 percent of its ownership interest in the Coliseum.
The city of Oakland also reportedly dropped its previous requirement that MLB keep the A's name and colors in Oakland, as well as a requirement that the league guarantee the city a future expansion team.
“We're very interested in doing business and having Class A stay in Oakland,” Lee Hanson, the city's chief of staff, told ESPN. “Part of that is helping them resolve this interim location challenge and making it clear what we expect in return.”
According to ESPN, the city of Oakland and the Athletics are scheduled to hold their third official meeting on Tuesday.
The five-year proposal, with an opt-out after three years, is reportedly intended to “protect” the city in the event of delays in construction of the organization's proposed Las Vegas ballpark. The team hopes to complete it by the deadline. 2028 season, or if the relocation fails completely.
“I remain committed to doing everything I can to keep the A's in Oakland,” Oakland Mayor Shen Tao said in a statement to ESPN. “The terms we have proposed for the Coliseum lease extension are clear, reasonable, and achievable. Having Major League Baseball in Oakland is in the best interest of the owners, the league, the players, and most importantly, the fans.” is.”
The Athletics are also in talks with Sacramento and Salt Lake City as potential host cities for temporary housing, with plans for a three-year term in Sacramento reportedly gaining momentum in recent weeks, according to ESPN. .
Officials also told ESPN that the Athletics, who currently pay $1.5 million in rent to play in the Coliseum, have offered the city of Oakland a two-year contract that will pay them $7 million and $10 million over the life of the contract. Told. Other temporary options will be available for the 2027 season.
It remains to be seen whether the Athletics will accept the city's agreement or return to the negotiating table with Oakland and other potential cities.
“The city is offering a very reasonable deal,” Hanson told ESPN. “We do not believe there is a silver bullet in this agreement. We feel this is an achievable goal and are moving forward with the understanding that the timeframe for implementation is short.”
