County board OKs 10-year lease agreement between A's, Coliseum
JUL 29, 2014 8:25p ET
The Alameda County Board of Supervisors has voted to approve a 10-year lease extension to keep the Athletics in Oakland.
The board on Tuesday approved recent changes to the agreement between local officials and A's owner Lew Wolff. The deal already had been approved by the Oakland City Council and will become official once the Oakland Alameda County Coliseum Authority ratifies the changes.
The deal is expected to bring in an estimated $20 million to the city and county.
As part of the new lease, city leaders say the team agrees to stay in Oakland for at least two years and faces a $1.6 million per year penalty if it leaves before the lease is up. The deal also requires that the team engage in good faith discussions about building a new ballpark in Oakland.