The Oakland-Alameda County Coliseum Authority issued a statement Wednesday about the negotiations with the team on a 10-year lease at the O.co Coliseum. Both the team and the Coliseum Authority have a strong desire to work out a deal, however, there’s just one problem: The Coliseum Authority claims the A’s haven’t paid their rent for the past five years.
The San Francisco Chronicle’s John Shea reported that the A’s apparently owe the Authority $5 million in rent. The A’s want their debt to be written off (despite their market value of $1 billion), but the Authority says that the money could be used for public purposes.
“We look forward to addressing these issues and are committed to negotiations,” stated Oakland Councilmember and Coliseum Authority Vice-chair Larry Reid. “We agree with the A’s that they should stay for at least ten years, and we are staying at the bargaining table. We look forward to continued discussions and to coming to an agreement on a mutually beneficial lease.”
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