Oakland lease extension could cost the Athletics $97 million

The extension would keep them in town until their proposed Las Vegas stadium is built in 2028.

By Velena Jones • •

NBC Universal, Inc. A new five-year contract is in the works if the A’s want to keep playing in Oakland once their lease expires this year. Bob Redell reports.

A new five-year contract is in the works if the A’s want to keep playing in Oakland once their lease expires this year.

The extension would keep them in town until their proposed Las Vegas stadium is built in 2028.

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The price to stay and play? $97 million.

“I totally agree with the offer, I think Oakland has done everything that they can to keep a team here,” said Bryan Johansen, the owner of Last Dive Bar, an online store that sells apparel celebrating the Coliseum.

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The A's will meet with the city of Oakland Tuesday to discuss its short term future in the city with the team’s lease expiring at the Coliseum at the end of the season. Pete Suratos has the details on the possible lease extension to keep the A’s in Oakland until they move to Las Vegas in 2028.

The city confirmed that under the proposal, the A’s can opt out after three years but would still have to pay the full amount. Mayor Sheng Thao is also calling for Major League Baseball to create a path for Oakland to get a future expansion team, help facilitate the sale of the A's to local ownership, or allow the city to keep the A’s name and colors.  

Johansen, one of the leaders of last week's home opener boycott, calls the offer a smart negotiating tactic but isn't convinced it will work.

Oakland isn’t the only option. The team is also looking at relocating to Sacramento or Salt Lake City until Vegas is ready.  

“I think that Sacramento is a serious, serious thing. I think the contract will get negotiated and I don’t think they will take any terms. I think they could’ve offered them to play there for free and I still think they want out of Oakland,” Johansen said.

Long-time fans like Hal Gordon, better known as Hal the Hot Dog Guy, feels that if an expansion team fails, keeping the A's in town serves no purpose.

“Without an expansion team, with no hope of keeping an MLB team, I think 90 to 95% of A’s fans are ready to say goodbye to this season and get them out of here,” said the former Coliseum hot dog vendor. 

The city is also asking for the Athletics to sell their 50% ownership in the Coliseum Complex.

A day before the A's are expected to meet with the city of Oakland to discuss spending a few more years at the Oakland Coliseum, we are learning what the city is asking from the team to stay in town. Velena Jones has the details on a possible extension that could keep the A’s playing in the Bay a little longer.

In a statement, Mayor Thao calls the proposal clear, responsible and achievable, adding, “Having Major League Baseball in Oakland is what's best for the owners, the league, the players and most importantly the fans.”

“A’s fans have experienced nothing but disappointment for decades as the search for a new stadium and better owners has never worked out. I think almost every A’s fans expects bad news from this negotiation,” said Gordon. “It would be an unbelievable win for the city.”

The $97 million proposal could help the city’s $170 million general fund deficit, and some fans think the price holds special symbolism.

“It’s the exact same gap that the Howard Terminal had, $97 million, so I like that jab that they took back at them. If you want to stay here, you’ve got to basically pay what you should’ve paid to finish the deal,” said Johansen.

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