BayIG backs down on lease term, Quan endorses deal, Wolff denies move out of Bay Area

Ray Ratto has been giving the stadium situation a constant read this week. Wednesday’s piece may have been the best of all, though it can mostly be summed up by this:

halfass

Can we even give the City of Oakland credit for half-assing? May be generous.

Meanwhile, on the news front, the City received another letter Wednesday from BayIG’s lawyers, which indicated that the development mean could be onboard with a plan to provide the A’s 2 years’ notice if a replacement Raiders stadium came to fruition. That’s a backpedal from their original stance, which was to tear down the Coliseum immediately after the A’s 2015 season in order to make way for the new football venue. BayIG suffered a little blowback in the media and from fans, which may have led to this softening.

In that same article, Oakland Mayor Jean Quan continues to believe that the city can continue to host both teams, while endorsing the lease extension approved by the JPA last week. Quan doesn’t get to vote on the deal unless the 8-person City Council is deadlocked. Said Quan,

“I absolutely want the City Council to sign this agreement so that we can get on to negotiating a new stadium (with the A’s).”

We’ll see if she’s forced to break a tie. Several of the council members are undecided, perhaps hoping for concessions from the A’s that probably are not coming.

Word came yesterday morning from The Game’s Chris Townsend that the A’s could be willing to buy out the County’s portion of the JPA, which would allow the team to work on a new development plan for the Coliseum complex. I’m looking into the legality of such an arrangement. The bond issues are heavily tied into specific revenue streams and the property is jointly owned, not divided, so it’s unclear how a private developer could legally replace a public entity. It’s also important to note that BayIG has an Exclusive Negotiating Agreement (ENA) with the JPA for any Coliseum development. That agreement doesn’t expire until October, so any developer whether the A’s or a third party can’t formally engage in talks with the JPA until the ENA expires, assuming it’s not extended. Correction 5:37 PM – As was pointed out in the comments, the ENA is only between BayIG and the City of Oakland, not the JPA. Because of this, Miley or other JPA members could engage in discussions with the A’s over the future of the Coliseum complex.

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Once again, Lew Wolff had to speak publicly about someone else’s suggestion that the A’s could leave the Bay Area. CM Larry Reid suggested the team could go to Montreal or San Antonio, places that coincidentally had hosted exhibition games in March. As I’ve said before, MLB may wield the move threat, but it’s largely toothless without a deal for a new ballpark in a target city. No rumored candidate like Portland, Montreal, San Antonio, or Charlotte is close to having such a deal in place. In fact, Charlotte just opened its AAA ballpark, surviving numerous legal challenges by a local attorney who wanted to aim for MLB, not AAA. Sorry, no Timbuktu.

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A couple other blog posts are worth reading and come from completely different angles. The first is a piece by the Motley Fool advocating for a move to San Jose. It’s a skin-deep analysis, but may portend future San Jose articles in the media, especially if Oakland continues to be a circus. The other is from Death of the Press Box writer Andrew Pridgen, who calls Wolff the “last great owner in baseball.” Mind you, he sets the post up by calling Wolff a prick.

BayIG’s attorney argues against A’s lease extension, asks JPA to stay with ENA

BANG’s Matthew Artz has a story late tonight about Bay IG (the group working on Coliseum City) asking the JPA not to approve the lease and to allow the remaining study work to be completed through the end of the ENA period, which is this October. For whatever reason the letter doesn’t come from BayIG or its members, Colony Capital or JRDV, but rather from the law firm of Wendel, Rosen, Black & Dean. Strangely, the lone signatory is a lawyer at the firm, R. Zachary Wasserman, not one of the regular BayIG representatives. Regardless, the letter sends a strong message to not cave in to Lew Wolff’s and MLB’s demands, citing the ongoing Coliseum City work and the money already spent on the project, which has been all public money so far. The letter:

Re:A’s Lease Extension Negotiations and Coliseum City ENA

Dear Mayor Quan,  Council Members and Mr. Gardner:

We have had a chance to briefly review the proposed new lease with the A’s released by the JPA this week. The “out clause” as it is written in Section 7.2.2 will make it impossible to complete the obligations of the development under the Exclusive Negotiating Agreement (“ENA”) with the City.  The ENA requires our team to produce a deal with at least one of the teams.  As you know, the only team that has been willing to engage in active negotiations with us is the Raiders.

The City has spent three years and $4 Million to adopt a plan and an EIR that would allow a major new development at the Coliseum site creating a new environment that can keep both the A’s and the Raiders in Oakland.  The City entered into the amended ENA with our client Bay Investment Group and JRDV and HKS.  Our clients relied on the City’s good faith for almost six months in continuing to fulfill their obligations before the ENA was executed.  We do now have a fully executed ENA and the proposed A’s lease will make it impossible to fulfill the ENA development team’s responsibilities under that agreement.

The A’s have until the last few weeks expressed no interest in talking about the Coliseum Project.  The Raiders who have clearly said they want to stay in Oakland in a new facility have been meeting regularly with representatives of the ENA team.  We believe that we will have an agreed upon term sheet with the Raiders making the Raiders the anchor of a new multi-use football stadium on the Coliseum Site by the end of the summer.  This will allow the ENA team to meet its obligations to have an agreement with the City in October.

As you know, it is the Raiders desire and plan to play in a new facility in Oakland for the 2018 football season.  They are making arrangements to play elsewhere for the intervening time. It will be critical to demolish the existing stadium in 2015 not only to construct the new multi-use Raider’s facility but also to simultaneously construct the associated developments including a hotel, retail and office buildings.  These ancillary developments are critical to support both the developer’s ability to fill the gap on the cost of the multi-use Raider’s facility and to create the necessary tax benefits for the City and the County and create a new major economic engine for Oakland.

The approval of the new lease as proposed, allowing the A’s to remain on the site would frustrate these negotiations with the Raiders, frustrate the  purpose and language of the ENA and prevent the effective development of the Coliseum City Project.  It is not necessary to choose between the teams.  The goal of the ENA and the goal of our team is to provide the necessary support for both teams – and much more.  The ENA, which is valid through October 2014, provides the City and ENA team a period of time for preliminary study and exclusive negotiations over a proposed project at the Coliseum site (which includes and encompasses the area subject to lease negotiations with the A’s).  Terms requiring a two year “Out” notice in the A’s lease will violate the ENA agreement between our clients and the City of Oakland.  All we are asking is for the time to perform that is provided in the agreement you have approved..

The “out clause” in the proposed A’s lease would be triggered by the presentation of a “Raider’s Construction Plan” – this term is not defined.  If it means a detailed engineering plan, then this would allow the A’s to remain in place for two years beyond when the developer and the Raiders would be ready to start construction – which clearly does not make sense.  In addition, the A’s would not be required to leave until 60 days after the conclusion of the second baseball season following the notice – so if notice were given in September of this year, based on the current design plans, the A’s would not have to vacate until late summer of 2016, which means that the new facility and the ancillary development could not be completed until fall of 2019.  But if there were any serious thought of giving notice this year, the new lease – including the economic terms – makes no sense at all.

The City has spent over $4 million dollars in a far sighted and thoughtful effort to create a new, amazing, and absolutely possible development that will create a major new tax base for the City and County, produce thousands of jobs and make it possible to retain at least two teams in Oakland.Permitting the A’s to remain in the existing facility beyond 2015 under the terms of this proposed lease would make the City’s expenditures and efforts a waste of public funds.  The current proposal also simply allows the A’s to buy more time to find a site outside of Oakland.  frustrate Bay IG’s efforts to develop the site and disrupt the ability to deliver a stadium for the Raiders and the ancillary developments adjacent to that stadium.

We ask you to honor the terms of the ENA and allow the development team the time to meet its obligations in October.  Approving the A’s lease as proposed now will make that impossible.  Any decision on this proposed lease should not take place until the ENA team and the Raiders have been allowed the agreed upon time to perform and to create the opportunity that will benefit the A’s as well as the Raiders, their fans  and the entire City and County.

Along with the City, the ENA team wants the A’s to remain in the City of Oakland and at the Coliseum site.  We welcome the opportunity to discuss this with you and any representatives of the JPA and we are certainly open to discussions with the A’s about how we can work together.

 

Very truly yours,

WENDEL, ROSEN, BLACK & DEAN LLP

R. Zachary Wasserman

The “Raiders Construction Plan” is defined in the lease terms, under section 44.32:

“Raiders Construction Plan” means a bona fide plan for construction of a new football stadium for the Oakland Raiders on current Complex property, adjacent to the current Complex property, or otherwise located sufficiently near to the Stadium such that it will materially impact Licensee’s operations, which bona fide plan must include, as pertains to such stadium project, a fully executed development agreement with a third-party developer and the Licensor for development of a new Raiders stadium, supported by a non-refundable deposit from the developer and received by the Licensor of at least Twenty Million Dollars ($20,000,000.00).

Now, the term “bona fide plan” is subject to some interpretation. Basically it refers to the Disposition and Development Agreement for the land, Master Lease, and any other supporting documents needed to produce the deal. The 49ers and Santa Clara went through the same thing for Levi’s Stadium, so it’s not as if there’s some mystery here. Wasserman is a well-known, respected real estate and land use lawyer. He knows full well what all of this entails.

Matier and Ross have a new item up regarding this letter, including some key quotes. I’ll just present them here.

Nate Miley: “We (the City/County) still owe about $180 million on the stadium. This is either smoke and mirrors, or they are on crack.”

A’s VP Ken Pries: “From our position, we just don’t think that (Raiders project) is going to happen – we are betting it doesn’t.”

After 2014, the amount owed on the Coliseum will be closer to $138 million, much smaller than Miley states but still quite sizable. Miley has been the biggest skeptic on Coliseum City among the JPA board, and has shown no signs of wavering. Larry Reid noted that BayIG has the backing of the City, but not the JPA, so it appears that the two are at loggerheads over more than just a lease agreement. It makes me wonder how the two could come to any kind of consensus. Miley could also step up his rhetoric on having the City buy out the County, though the City doesn’t have the funds (a recent budget surplus isn’t nearly enough).

 

Speaking of funds, the BayIG letter mentions $4 million in public (JPA) funds spent on Coliseum City studies. To date, I am unaware of any money that has been spent by BayIG other the funds that have been released to them. Colony Capital, the financial muscle behind the plan, hasn’t raised a single red cent. Maybe the biggest objection, not mentioned in the letter, is the A’s lease agreement’s demand of a $10 or 20 million, non-refundable deposit from the eventual developer. Such a deposit would show BayIG had real skin in the game.

As for Pries, it’s the first real statement we’ve heard from the A’s that they don’t think much of Coliseum City’s prospects. It’s really nothing more than to confirm why they had no interest in the project as it’s being conceived. The A’s have laid down their cards – they’re calling out BayIG and seeing if they can deliver. It’s yet another way to shake up the tree. BayIG says it will have all of the lingering questions answered by the end of the ENA period. The A’s are betting they don’t. The Raiders? Well, Mark Davis seems content to go with the flow. For now, at least.

Miley and Reid stir up A’s relocation talk

If you’re Bud Selig or Lew Wolff, sometimes you don’t have to play your own cards when others play them for you. Case in point: Oakland CM Larry Reid and AlCo Supe Nate Miley both brought up the specter of the A’s leaving Oakland, perhaps for San Antonio or Montreal. Nevermind the likelihood of it happening, it’s part of the threat, and the City of Oakland should take it seriously. Even sports economist Andrew Zimbalist says so, though the relocation doesn’t have to be as far as Canada. Zimbalist:

“What they could do is make a short-term arrangement to share AT&T Park with the Giants, and you know that could go on for a couple years until they found an alternative stadium situation.”

MLB wielded the move-to-AT&T card last November and the Giants were mum about it. MLB could move the A’s there temporarily while something was worked out elsewhere. Over the last few weeks I saw some discussion about whether the Giants’s Charter Seat License program could muck things up because CSL holders may have first dibs on any regular season games at China Basin, not just the Giants. I’m not so sure about that, since the license agreement indicates that “Home Games” are specific to the Giants. There’s a gray area in how another home team’s games would be handled, but since there are already provisions for offering and distributing tickets for non-Giants game events (“Classic” events), I figure this isn’t a huge obstacle.

That aside, relocation outside of the Bay Area should be taken much less seriously. Field of Schemes’ Neil deMause lays out the difficult cases for each market and includes San Jose, which has the Giants’ territorial rights claim as its because hurdle. If MLB wants to go through the same charade for the A’s as it did for the Expos, there isn’t a huge pot of gold at the end of the rainbow. Oakland is in no position to give up a publicly financed stadium to the A’s. Portland, San Antonio, Charlotte, and Montreal can be best described as mid-level markets, and while some of those cities don’t have problematic stadium T-rights situations to deal with, a relocated team will still be invading existing TV territories, which are arguably just as valuable if not more so. Hell, it’s been a decade and MLB is still trying to unwind the O’s-Nats TV mess.

So for now, there’s nothing to see here. There’s little real action, only theatrics on the part of the JPA and Oakland. If the City calls the Wolff/Selig bluff and sends back a revised offer, then we’ll see the threats fly in earnest. Or not.

P.S. – Keep in mind that until November and last week, MLB has been playing nice with Oakland. They allowed Oakland to entertain the Howard Terminal concept. They didn’t nudge Oakland to choose the A’s over the Raiders. Now all of that has changed. Howard Terminal has been shut down via the lease talks. MLB is waiting for Oakland to partner with the A’s after the dissolution of Coliseum City. If that doesn’t happen, MLB will have a clear indicator of how Oakland wants to proceed.

 

Huntington Park, Columbus

After a visit to the Pro Football Hall of Fame in Canton, I drove the 2+ hours southwest to Columbus to catch a game at Huntington Park. Traffic and a late start made it so that I didn’t get there until the 4th inning. Nevertheless, there was sufficient time to take the whole scene in.

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Joe Mock wrote a particularly glowing, exhaustive review of Huntington Park back when it opened in 2009. If you want the full scoop, read that. I prefer to highlight a few things I saw during my brief visit.

First, it should be noted that Huntington Park (named after an Ohio bank) is one of the first ballparks done by 360 Architecture, the same firm working on the Earthquakes Stadium and Cisco Field. 360 is known more for its work on several indoor arenas, including Nationwide Arena across the street from the ballpark and Sprint Center in Kansas City. With 360 and not Populous (HOK) doing this venue, there was a question about how much the architects would stray from the script. While it doesn’t look all that different from a Populous design from the outside, on the inside there’s plenty of new and innovative thinking.

Like many urban parks, Huntington Park uses all available space within its city block. The brick facade along the right field fence runs up against into Nationwide Drive, a small street running through Columbus’s arena district. Instead of a complete wall, there are openings approximately every 20 feet, allowing for numerous places to view into the park. Near the right field corner this area is a short, double-deck walkway that’s also 20 feet wide. Beyond right-center the walkway ends. The sidewalk on Nationwide Drive ramps up to the concourse level and carries the theme further, providing “portholes” for spectators along the street. Many minor league parks have a Knothole Gang-type feature, but Huntington Park is perhaps the most innovative in how to design it. It’s very reminiscent of AT&T Park’s arcade/promenade feature, yet very unique on its own. Visually, the stadium’s two-story design means the colonnade has little impact. The impact would be much greater on a taller stadium such as Cisco Field.

The setup dictates that there’s no 360-degree concourse, which is ironic given the architecture firm’s name. This apparently was a conscious choice, since the team and architects figured that the wandering around the concourse novelty effect would wear off over time as fans got used to the venue. This was an apt decision, as fans seemed to have settled into spaces they like the most. A $7 ticket is good for the bleachers, berm, or standing areas, most of which have drink rails. Families may like the bleachers or the small berm in left. Fans wanting good views of the game might choose the drink rails down either line. And if you get there early enough, you and your friends can hang out in that right field colonnade, where there are stools and extra side rails that allow you to “claim” your own space. If there ever was an effective argument against the wraparound concourse, this is as close as it gets.

Along the main bowl, the benefit is an enormously wide concourse, which I estimated to be 66 feet not including the wheelchair row. That’s over twice the width of the Oakland Coliseum’s lower concourse. With all that space, 360 broke up the concourse, similar to the way part of the lower concourse at Jacobs Field* is split. They even took it a step further by including a completely open-air concession stand that serves from three sides. It’s a particular ingenious way of using the space while also providing views of the action. The concession stands are full service, with taps, soda fountains, grills, and deep fryers. It’s not a design that should ever be attempted if the concourse is not sufficiently wide enough since it could cause severe congestion. Even with the 66-foot width, congestion has been reported at Huntington Park, though I didn’t see it when I went and there should be easy ways to manage it when it happens. Restrooms and other services are set into buildings along the concourse.

Behind the plate in the seating bowl are the club seats and loge boxes. Loge boxes, while de rigueur in 2014, weren’t so commonplace in 2007 when Huntington Park was being built. With 4 chairs each, tables and full service, loges fit the gap between individual club seats and luxury suites. I can see why they were incorporated into the Cisco Field design and Dodger Stadium.

I had heard and read many recommendations about Huntington Park, and was pleased to find out that they were very much on target in their assessments. I haven’t even gone over several other features, or discussed the general niceness of the crowd. For now, it’s good enough that Huntington Park is a solid evolutionary step of ballpark design, and I hope that they’re allowed to evolve it even more at some point.

Why would Mark Davis want to build at the current Coliseum site?

Infrastructure costs, plain and simple.

Ever since people have talked about building another venue on the Coliseum site, that talk has gotten shut down by the costs associated with relocating utilities, most famously the power lines that run through the complex. While such costs are a low percentage of the overall project cost, the fact is that they would have to be dealt with upfront. And since upfront costs often have to be borne by the team while the public financing piece gets squared away, it’s a budget item that no team owner wants to deal with if he can avoid it.

CC-easements

Utilities running through the Coliseum area. Orange are power lines, green are sewer

According to the infrastructure study released in the spring, the estimated cost to relocate the power transmission lines is $15.8 million. Another $1.4 million would be allocated towards relocating a sewer line (green dotted line). Both of those changes would be necessary to accommodate a football stadium on the D lot south of the existing Coliseum. The good thing is that the relocations would help a ballpark in the A lot as well, so it’s a one-time project cost.

A stadium built within the existing Coliseum footprint would require none of this infrastructure work. Should Coliseum City be developed down the road it would have to be addressed, but that would be the within the purview of the developer, not Mark Davis. There would still be the cost of demolishing the Coliseum, which is unknown at this point (could run into the $10 million range), which would be done whether the stadium was built on the site of the existing Coliseum or adjacent to it.

The cheapest alternative would be to re-do the Coliseum. Even then there would be an unknown cost of partial demolition of the Coliseum, so there’s a cost there. Ever wonder if Davis would be okay if the Coliseum simply didn’t have a baseball infield on it?

Selig pulls out move threat card, Oakland folds like cheap tent, JPA approves lease

Today had me driving from Toledo to Pittsburgh, so much of the time I was out of pocket or unable to catch up on news. Fortunately, I arrived at my planned midpoint as the JPA was convening for a vote. This is the place I visited:

The Ohio State Reformatory

The Ohio State Reformatory

Look familiar? It’s not a college campus or an old hospital. It’s the old Ohio State Reformatory, located in Mansfield, Ohio. It’s better known as the site for the filming of The Shawshank Redemption, the great Stephen King-Frank Darabont picture that no one saw in the theaters but everyone saw on cable. I toured the prison, which would’ve been demolished if not for the film’s production and belated popularity. Like the Coliseum, much of OSR is in a steady state of decay. And like the film’s climactic scene, our own green-and-gold clad heroes at times have forded a river of sewage to escape the facility. I recognize that forcing a team of millionaires owned by billionaires to stay in mediocre conditions is nothing like actual prison. The point is that writing this blog at times is my own personal prison, one that I seemingly can never escape (especially the comments section or fools on Twitter). However, I made a promise to see this through, so it’s being done. Every so often I allow myself to feel a little hope, the dangerous concept that Red cautions Andy to squelch. Even after 9 years and with no end in sight, I still hope. I can’t allow myself to be completely consumed by cynicism. There’s already one Miserablist in the Bay Area, no need for two.

My own vacation activities aside, there is reason for hope to come out of today. First, let’s recap.

  • Yesterday, the prevailing sentiment was that the City representation on the JPA board would form a bloc and oppose proposed lease agreement, killing the deal and allowing the City to provide a counteroffer.
  • That tactic was quickly trumped by last night’s letter from Lew Wolff to the JPA, which was reported during the JPA session. Wolff indicated that if the JPA did not approve the lease, Bud Selig would grant Wolff immediate permission to move the team out of Oakland.
  • In fear of Selig’s threatened reprisal, the JPA board met in closed session to discuss the lease. Eventually the lease was approved 6-2, Rebecca Kaplan (who helped construct the lease terms) and Aaron Goodwin (who dissented on the current lease).

Now for the deal terms. The redone lease includes concessions made by both sides. Note: the deal must be ratified by the Oakland City Council and Alameda County Board of Supervisors before August 1.

  1. The A’s will be in the Coliseum through at least the 2017 season, with opt-outs available to both the team and the JPA until the 2024 season.
  2. $5 million in back parking fees that were up for arbitration in the fall are now wiped away.
  3. The A’s will pay $1.25-1.75 million in annual rent. They will be obligated to pay this through the end of the lease, unless they are able to work a deal to build another stadium in Oakland.
  4. The A’s will pay at least $10 million for a new scoreboard/ribbon board package. They will keep all revenue from the boards during A’s games. The JPA/Raiders will get revenue for football games. If the new system costs less than $10 million, the remainder will be paid to the JPA.
  5. The JPA will put together a $1 million/year maintenance fund, for use when things break. The JPA is not obligated to spend $1 million every year if maintenance spending is not required.
  6. A’s will have good faith discussions about building a future ballpark at or near the Coliseum, depending largely on what the Raiders do.
  7. The Coliseum area is the only site under consideration for a ballpark, with Howard Terminal dropped.

However you feel about the parking matter, this is a large number of concessions from the A’s. As Interim City Administrator Henry Gardner pointed out, this won’t stop the big subsidy that the City and County have to pay to keep the Raiders and A’s at the Coliseum. Then again, the counteroffer wasn’t providing any relief for that subsidy either.

The A’s have also asked for any developer interested in the Coliseum to put up $20 million towards a redevelopment project. You can call this “earnest money.” It may sound like a lot, but it’s an important form of skin in the game for the developer, something that Colony Capital isn’t providing right now. Wolff certainly isn’t afraid of dropping that kind of coin, since he bought some Fremont land in advance and paid for the CEQA study work in advance. $10 million is a good amount to keep pretenders from engaging in talks.

This type of deal was available in November, before the last time the A’s and the JPA hit a stalemate. Selig and Rob Manfred then stepped in and negotiated the to-be-superseded short-term deal. For whatever reason, the City of Oakland hasn’t recognized that until now, Selig has treated the City with kid gloves. That explains their shock and outrage to Selig’s power play. Sorry Oakland, this is how Selig normally operates. It’s part of the standard commissioner’s playbook. At some point the hardass version of Selig was going to show up and back his owner. To expect different wouldn’t just be unrealistic, it would be downright delusional.

Things are not going to get better for Oakland. The other shoe to drop will be the reactions of Mark Davis and the NFL. Since the Raiders and A’s are effectively competing for the Coliseum, both leagues are likely to play tug-of-war with the City in order to get them to commit to either entity. That should provide Oakland with some amount of usable leverage, but that’s negated by the City’s lack of non-land resources and their concerns about the feelings of the other team/league. What you’re seeing right now is Oakland in paralysis. The NFL and MLB are only happy to shake Oakland out of it. Both leagues are gearing up their preferred and contingency plans. If Davis decides this is it and gives up on Coliseum City, the complex is all Wolff’s to negotiate. If Davis truly wants Coliseum City and sees a way to make it work, Oakland will have a tough decision to make. Which team, league and developer should they partner with? It’s a decision that no politician wants to make, especially during an election year. Yet that’s Oakland destiny. Get busy living? Andy Dufresne had to decide that he had enough of Warden Norton’s hijinks in order to plan his escape. Oakland has two Warden Nortons, and it will have to screw one of them. Otherwise Oakland could find its teams, like Norton’s money, all gone.

A’s, JPA ink lease extension

Press release from the JPA:

Oakland-Alameda County Coliseum Authority

For Immediate Release

July 3, 2014 Contact: Dan Cohen

Oakland-Alameda County Coliseum Authority Reach Agreement with A’s on Ten Year Extension for Team to Stay at O.Co Coliseum site

Terms of deal positive for Oakland taxpayers, sports fans, public entities, and the team

OAKLAND, CA – Today, the Oakland-Alameda County Coliseum Authority announced that it has reached an agreement with the Oakland Athletics on a ten year lease extension for the team to remain at the O.co Coliseum site through 2024. Terms of the deal, which were shared with Major League Baseball and released earlier this week, include a financial commitment from the A’s for new HD video scoreboards, termination clauses for both parties, and continuation of “good-faith” discussions on a new baseball stadium at the current site. The deal will be finalized after approvals from the Oakland City Council and Alameda County Board of Supervisors in July.

“This is truly a fantastic day for Oakland A’s fans, Oakland taxpayers, public entities, and the team,” said Coliseum Authority Chairman Nate Miley, who serves as an Alameda County Supervisor. “By reaching this agreement, both the franchise and the community have charted a course of stability for the next decade and more than doubled the revenue generated from the site. We know that the A’s and their loyal fans will be connected for years to come at the Coliseum site.”

The lease agreement settles all outstanding issues between the Coliseum Authority and the team. Additionally, if progress occurs on the development of a football stadium, the contract ensures that a variety of next steps would be considered to ensure maximum flexibility for both parties.

“This is about more than just a baseball team and a stadium, added Miley. “From early spring until early fall, families and friends head to O.Co Coliseum to spend time together, relax, and have fun. The A’s are part of the fabric of this community and have a rich tradition in Oakland. We’re thrilled to have a deal that ensures these experiences will continue while safeguarding the interests of all Oakland taxpayers. It’s a win-win.”

The Coliseum Authority notes this agreement means that the jobs, recreation, and entertainment the team and O.Co Coliseum provide for Oaklanders will remain an integral part of their lives. Additionally, in 2018, the A’s will celebrate their 50th anniversary in Oakland.

“Oaklanders can celebrate today, knowing that the A’s will continue to play their winning brand of baseball at the Coliseum,” adds Oakland City Councilmember and Vice Mayor Larry Reid, who also serves as Vice-Chair of the Authority. “The agreement makes sense for all parties, for everyone that calls Oakland home, and for every Oakland sports fan. As a city and as a tight-knit community, we are stronger with this deal secured.”

“After much diligence and cooperation from both parties, we are delighted to make this announcement today,” said A’s Owner and Managing Partner Lew Wolff. “We believe this agreement works well for city and county taxpayers, the team, A’s fans and all involved. It provides stability for the A’s while also improving fan and player experience with significant upgrades and improvements at the facility.”

The agreement calls for improvements to the Coliseum over the next ten years, most notably installation of new HD video boards, ribbon boards, and the associated control room equipment by Opening Day 2015. The A’s commit a minimum of $10 million to these improvements and the Coliseum Authority will pay for any necessary structural work and install improved lighting. This is on top of improvements made prior to this season, including new concessionaire and food items, remodeled dugouts, and an updated press box.

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About the Oakland-Alameda Coliseum Authority:

The Authority is a public partnership between the City of Oakland and the County of Alameda (owners of the Coliseum Complex) that manages the Complex on behalf of City and County. The Authority subcontracts the day-to-day operations of the Complex to AEG. An eight-member Board of Commissioners governs the Authority. Alameda County Supervisor Nate Miley currently serves as the Chair of the Board, and Oakland City Councilmember Larry Reid serves as the Vice-Chair.