Sports

Report: Oakland offers A’s stadium lease extension


Report: Oakland offers A’s stadium lease extension Originally appeared in NBC Sports Bay Area

After all, sports teams may have a future in Oakland, albeit a temporary one.

ESPN Reporting by Tim KeownThe city of Oakland will make a proposal to the A’s ownership to extend the team’s stadium lease beyond the 2024 MLB season, according to a document obtained by the network and KGO San Francisco.

The offer is for five years, with an opt-out after the third year, and requires the Athletics to pay a $97 million “extension fee,” which the team will owe even if it opts out and will reportedly repay the Coliseum, according to the documents. $170 million structural deficit. The organization was also required to pay for the cost of changing the playing surface to accommodate Auckland SC and sell its 50% ownership share in the stadium.

The city of Oakland also reportedly dropped previous demands that MLB keep the Athletics’ name and colors in Oakland, as well as the league’s guarantee that the city would be a future expansion team.

“We’re very interested in doing business and wanting the A’s to stay in Oakland,” Leigh Hanson, chief of staff for the city of Oakland, told ESPN. “Part of that is helping them with their interim site challenges and being clear about our expectations.” 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 option after the third year, is reportedly designed to “protect” the city in the event of delays in the organization’s proposed Las Vegas ballpark, which the team hopes will can the plan be completed in time for the 2028 season, or the move fail entirely.

Oakland Mayor Sheng Tao said in a statement to ESPN: “I remain committed to doing everything I can to keep the Athletics in Oakland. The terms of our proposed extension of the stadium lease are clear, reasonable and achievable. “Oakland’s Major League Baseball is what’s best for the owners, the league, the players and most importantly, the fans.”

The Athletics have also been in talks with Sacramento and Salt Lake City as potential host cities for a temporary home, and the idea of ​​a three-year stint in Sacramento has reportedly been gaining traction in recent weeks, according to ESPN.

Sources also told ESPN that the Athletics, who are currently paying $1.5 million in rent to play at the Coliseum, offered the city of Oakland a two-year deal to pay $7 to $10 million over the life of the lease, with the expectation that it would be the 2027 season. There will be other temporary options.

It remains to be seen whether the Athletics will accept a trade from the city or return to the negotiating table with Oakland or one of the other potential cities.

“The city offered a very reasonable deal,” Hansen told ESPN. “We don’t think there’s a poison pill in the deal. We think it’s an achievable goal and we’re moving forward because we only have a short period of time to do so.” Make it happen.” Execute. “



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