Written by Administrator
Friday, 13 October 2006 12:00
Less than a month after breaking off talks with the Oakland-Alameda County Coliseum Authority to extend their lease at McAfee Coliseum, the Coliseum Authority unanimously approved a lease extension Friday that would extend the lease for the A's till 2010 or possibly 2013.
There has been speculation that the A's may announce a move to Fremont in the off-season, and the lease extension has a provision within it that would address that possible scenario, should the club decide to relocate.
The deal allows the A's to cancel their lease without penalties if the team leaves for another stadium in Alameda County.
A's owner Lewis Wolff has expressed interest in moving the team to Fremont, about 20 miles south of Oakland in the same county, and the Oakland Tribune reported earlier this week that Wolff's company purchased 10 acres of land near the Fremont site that the A's have eyed for a new stadium.
The terms of the lease extension also include the end of attendance-based rent payments.
Under the current lease, which runs through 2007, the team shared half of its revenue from ticket sales after 2 million tickets were sold. This year, the team brought in 1.9 million fans for home games.
Formal approval by the parties still must be made. However, Alameda County, the City of Oakland and the Athletics said they agree to it in principle.