Oakland to present Athletics ownership with lease extension - ESPN

The city of Oakland will present Athletics ownership with an offer to extend the team's lease that includes a five-year contract with an opt-out after three years, as well as a requirement the team pays a $97 million «extension fee,» according to document obtained by ESPN and KGO-TV in San Francisco on Saturday.

The team and the city will meet on Tuesday, the third formal meeting between the two sides since the Athletics received unanimous approval from major league owners to move the franchise to Las Vegas.

The team is hoping its stadium in Las Vegas, on the site of the soon-to-be-demolished Tropicana Casino and Resort, will be completed in time to open the 2028 season. With the Coliseum lease expiring at the end of this season, that leaves at least a three-year gap the Athletics and Major League Baseball need to fill.

Commissioner Rob Manfred has expressed a desire to have the team's interim plans completed by early summer for future scheduling purposes, but he has said only that the team's temporary home will be «someplace in the West.» The A's have been in negotiations with Sacramento and Salt Lake City in addition to Oakland, and the idea of a three-year stint in Sacramento — allowing the team to keep a larger percentage of its reported $67 million in yearly local television revenue than it would in Salt Lake City — has gained traction in recent weeks.

The city is proposing the five-year lease with the opt-out after three to safeguard itself in case there are construction delays in Las Vegas or the deal falls through. According to the offer sheet obtained by ESPN and KGO-TV, the city has dropped previous requirements that called for MLB to keep the A's name and colors in Oakland, as well as a demand that MLB