A’s, Oakland officials remain ‘far apart’ on Coliseum extension
Oakland officials and the Athletics remain “far apart” on striking a lease extension for the MLB team at the Coliseum. The Athletics baseball team's lease at the Coliseum is set to end at the end of the year, with Oakland officials and the city of Oakland looking to further discussions. The A's team has expressed disagreement over the terms of a lease extension. Oakland's offer included a $97 million extension fee, with a five-year term that included an opt-out after three years, allowing the team to leave if its Las Vegas stadium is ready for the 2028 season, but also continue playing there if construction delays occur in Southern Nevada. The team plans to build a $1.5 billion ballpark in Las Vegas, with completion targeted for 2028.
Publié : il y a 2 mois par Mick Akers dans Finance
Oakland officials and the Athletics remain “far apart” on striking a lease extension for the Major League Baseball team at the Coliseum, team officials said Tuesday.
A’s brass and representatives from the city of Oakland met on Tuesday looking to further talks on a lease extension that started earlier this year. The A’s lease at the aging ballpark ends at the end of the year and despite a deal needing to be completed soon, in order for the MLB to complete its 2025 season schedule, the team said there is still work to be done.
“We appreciate Oakland’s engagement; and also, we are far apart on the terms needed on an extension,” the A’s said in a statement provided to the Las Vegas Review-Journal.
Oakland’s offer to the A’s featured a $97 million extension fee, with a five-year term that included an opt-out after three years, according to an ESPN report. That would allow the A’s to get out of the lease if its Las Vegas stadium is ready as planned for the 2028 season but also continue playing at the Coliseum, should any construction delays occur in Southern Nevada.
The full $97 million fee would still need to be paid for by the A’s, whether they were there for three or five years.
Oakland city officials are asking MLB officials to work with them on one of following options: establishing an exclusive one-year window to get an ownership group together for a potential expansion team; to have the A’s leave its name and colors in Oakland; or force the A’s to sell the team to a local ownership group, ESPN’s report noted.
Alameda County officials were not in agreement on the city’s proposed terms, a person with knowledge of the situation told the Las Vegas Review-Journal.
The A’s proposed a two-year extension, valued at $7 million and $10 million for those years, the source indicated.
The A’s plan to build a $1.5 billion ballpark in Las Vegas, with completion targeted for 2028. With the Coliseum lease ending at the end of the year, the team needs a place to play from 2025 through 2027. Team officials have met with officials in Sacramento, California, and Salt Lake City, Utah, about potentially playing at Triple-A ballparks in the cities.
The A’s plan to begin construction on the 33,000-capacity stadium in April 2025. The Tropicana shut its doors for good Tuesday afternoon, paving way for its tentatively planned demolition in October. From there, the site would be cleared and prepped for construction of the ballpark.
Contact Mick Akers at [email protected] or 702-387-2920. Follow @mickakers on X.
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