Coliseum Authority and the A's agree to 3 year extension.
As usual, new A's ballpark has the details:
The extension could potentially keep the A's in the Coliseum through 2013. The structure of the deal is such that the pre-existing deal, which was guaranteed through 2007 and had one-year options through 2010, now guarantees the A's stay through 2010 and push the options out to 2011-2013. Some of the finer points:
- The lease allows the team to leave with 120 days notice without penalty if it moves to a 40,000-or-more capacity stadium in Alameda County.
- Should the team leave the area, it would have to pay the remainder of its lease and a $250,000 penalty.
- Whether the 2011-2013 years are optional or guaranteed has not yet been finalized.
- The payments will be higher than in the pre-existing lease, totalling $4.7 million over the last five years. The A's payment for 2006 is only $500K.On the surface this sounds like a nice reciprocal goodwill gesture, but as I wrote earlier on this matter, simply pushing the options out three more years mostly benefits the A's since they get a nice safety in case a new ballpark is beset with delays.