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NEW LEASE AGREEMENT SHOULD MEAN KEEPING THE A'S IN OAKLAND
Published February 1, 1995
The new owners of the A's, Stephen Schott and Kenneth Hofmann, "moved a big step closer to keeping the team in Oakland" on Tuesday when public agencies in Alameda County approved a new lease agreement between the team and the Oakland Coliseum. The agreement, which would keep the A's in the East Bay until 2004, was approved by Alameda County supervisors, the Oakland City Council and the Coliseum Commissioner. Schott and Hofmann, who agreed to purchase the team from the Haas family for $85M, still need to line up financing and get approval from MLB owners. City and county officials have promised taxpayers the new arrangement will not cost them anything. However, the contract is based in part on the sale of naming rights for about $450,000 per year (Frances Dinkelspiel, SAN JOSE MERCURY NEWS, 2/1).