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.
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.