The city of Oakland is set to present the Athletics ownership with a lease extension offer that includes a five-year contract with an option to opt out after three years. This offer also entails the team paying a $97 million “extension fee,” according to documents obtained by ESPN and KGO-TV in San Francisco.
Scheduled for Tuesday, this meeting marks the third formal discussion between the city and the Athletics since the team received unanimous approval from Major League Baseball owners to relocate to Las Vegas.
The Athletics aim to have their new stadium in Las Vegas, situated at the site of the soon-to-be-demolished Tropicana Casino and Resort, ready for the 2028 season. However, with their current lease at the Coliseum expiring at the end of this season, there is a gap of at least three years that needs to be addressed.
Commissioner Rob Manfred has stressed the importance of finalizing the team’s interim plans by early summer for future scheduling purposes. While the team’s temporary location is expected to be “someplace in the West,” negotiations have been ongoing with cities like Sacramento and Salt Lake City, in addition to Oakland. The possibility of a three-year stint in Sacramento has gained traction recently, as it would allow the team to retain a larger portion of its reported $67 million in yearly local television revenue compared to Salt Lake City.
The proposed five-year lease with a three-year opt-out clause serves as a safeguard for the city in case there are any delays in the Las Vegas stadium construction or if the deal falls through. Notably, previous requirements regarding the retention of the A’s name and colors in Oakland, as well as a guarantee of a future expansion team for the city from MLB, have been dropped from the offer.