Report: Oakland to offer A’s 5-year lease, with ‘extension fee’

Mar 30, 2024; Oakland, California, USA; A mural on the outside of the stadium that replaced the Rooted in Oakland sign as seen before the game between the Oakland Athletics and the Cleveland Guardians at Oakland-Alameda County Coliseum. Mandatory Credit: Darren Yamashita-USA TODAY Sports

Credit: Darren Yamashita-USA TODAY Sports

The city of Oakland will make a pitch to keep the Athletics in town for up to five years by extending the team’s lease, ESPN reported late Saturday night.

Citing documents the network said it and San Francisco television station KGO have obtained, the offer will be presented on Tuesday, when the city and team meet for the third time since MLB owners gave their unanimous for the franchise to move to Las Vegas.

The team would be able to opt out of the lease after three years, according to the report, but would be required to pay the city a $97 million “extension fee” per the documents, the report said. The current lease expires after this season.

With a new stadium in Las Vegas not expected to be ready before the start of the 2028 season, the A’s have been exploring where to play their home games beyond 2024.

Salt Lake City and Sacramento have been in talks with the club.

The report indicated that Oakland is no longer demanding that the A’s name and colors be reserved for the city, nor that MLB guarantee Oakland an expansion team. The extension fee would not be subject to negotiation, however, according to the city’s chief of staff, Leigh Hanson.

“We are very interested in doing business, and in having the A’s stay in Oakland. Part of that is helping them solve this interim location challenge and just being clear in what we expect in return,” Hanson said.

She said the city needs the $97 million to help cover a $170 million structural deficit on the stadium.

The team has previously proposed a two-year agreement with payments of $7 million and $10 million over the course of the lease. The A’s pay $1.5 million in rent to play in the Coliseum under the expiring lease.

The franchise, which originated in Philadelphia in 1901, operated in Kansas City from 1955 to 1967, before moving to Oakland.

–Field Level Media

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