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A's and Oakland Coliseum Authority agree on 10-year lease

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The Oakland Athletics and the Oakland-Alameda County Coliseum Authority have finally agreed on a new 10-year lease to keep the A's at O.Co Coliseum through the 2024 season.

The two sides had been going back and forth with no apparent headway being made, leaving the future of the A's in Oakland in jeopardy. Fortunately, the negotiations are complete and the new deal is all set to go, pending approvals from both the Oakland City Council and the Alameda County Board of Supervisors. The approvals are expected to be received sometime in July.

“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.”

As part of the new 10-year extension, the two sides will settle all outstanding issues between each other, while the A's will be committing to at least $10 million of upgrades and renovations to O.Co Coliseum. Some of the upgrades will include the installation of new HD video boards, as well as new ribbon boards between the plaza and field levels of the stadium. The Coliseum Authority will pony up the money for any structural work required to make the renovations possible. According to the team, all upgrades will be completed by Opening Night 2015.

As part of the contract, there is some verbiage that takes into account the possibility of progress towards a new football stadium for the Oakland Raiders, which means that both the A's and the Coliseum Authority would take necessary steps to ensure that there is "maximum flexibility" for both teams.

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