A's co-Owner Steve Schott said he and partner Ken
Hofmann "expect to trigger a Coliseum lease provision by
Friday that will put the team up for sale," according to
John Hickey of the OAKLAND TRIBUNE. Since the team's
current lease "commits" them to the Oakland-Alameda Coliseum
through 2004, Schott and Hofmann are "obligated to put the
team up for sale at a discounted price" if they want to opt
out of their lease before then. Schott: "We are not going
to let this option go by. From our point of view, we don't
have much of a choice but to give notice." Once they give
notice, Schott and Hofmann will "name their sale price."
But if Coliseum Authority execs feel the price is too high,
both sides will enter a 60-day arbitration process. The A's
"previously have indicated they might ask for" $135M, but
the Coliseum Authority "is expected to seek a much lower
selling price" to make the team "more attractive" to
potential buyers. Schott said he is still willing to
"commit to the Coliseum," and "forgo" the year-to-year lease
as part of a settlement of the club's pending $48M claim
against the Coliseum (OAKLAND TRIBUNE, 10/22).
