Oakland, CA (SportsNetwork.com) - The Athletics and the Oakland City Council announced a 10-year lease extension agreement that could have the team continue to play its games at O.co Coliseum.
The final hurdle will come from the Alameda County Board of Supervisors on July 29, but the deal should receive swift approval.
"We are pleased to hear today that the A's owners are agreeing to the terms the City Council approved last week for a 10-year lease extension," Oakland mayor Jean Quan and City Council president Pat Kernighan said in a joint statement. "We want to thank the team's ownership, our colleagues at the County of Alameda, our negotiators and everyone at the City of Oakland who has worked tirelessly on our shared priority of keeping the A's here at home.
"Once the A's ownership and the County have approved the deal, we look forward to moving on to talking about the bigger goal: building a beautiful new ballpark for the team right here in Oakland."
A's co-owner Lew Wolff reportedly accepted many changes in the lease agreement from Oakland city officials. The lease agreement reportedly requires that Wolff have "good faith" discussions about building a new stadium in Oakland.
The Coliseum was built in 1966 and is the only multi-purpose stadium left to serve as a full-time home to both a Major League Baseball team and a National Football League team in the United States. The aging facility has had multiple sewage problems and electricity issues in the past year.
The A's, who have won four World Series Championships during their time in Oakland and are vying for their third consecutive American League West title this season, will celebrate their 50th anniversary of playing in Oakland in 2018.