Oakland to offer A’s 5-year lease extension before move to Vegas, reports say

The Oakland Athletics are facing a dilemma as their lease in Oakland is set to end at the conclusion of the 2024 season, leaving them without a home until their new stadium in Las Vegas is completed in 2028. However, there may be a solution closer to home.

According to ESPN, the City of Oakland is prepared to offer the A’s a lease extension to bridge the gap between their current lease and the opening of their new stadium in Vegas. The city has reportedly dropped many of the demands from the original draft of the lease extension and is now presenting three options to Major League Baseball.

The first option is for MLB to facilitate the sale of the A’s to a local ownership group. The second option is for the A’s colors and name to remain in Oakland, meaning the team in Vegas would have a new identity. The third option gives Oakland a one-year exclusive right to solicit ownership of a future expansion team.

The proposed lease extension would be for five years with an opt-out after three, and the A’s would be required to pay a $97 million extension fee, which is nonrefundable even if the team opts out early. This figure is symbolic of the shortfall the city faced when A’s owner John Fisher walked away from the Howard Terminal project.

The A’s have offered a two-year contract with payments of $7 million and $10 million, but the city is standing firm on their $97 million demand. The team has been exploring other options, including Sacramento and Salt Lake City, but staying in Oakland would allow them to continue playing in a MLB caliber stadium without uprooting the entire organization for a temporary stay elsewhere. Meetings between the A’s and the City of Oakland are scheduled to take place to discuss the offer further.