Alameda County will use the $85M from the A's to pay off its outstanding bond debt on the ColiseumGETTY IMAGES
The A’s have come to a "tentative agreement to buy Alameda County’s half ownership of the 155 acre Oakland-Alameda County Coliseum site" for $85M, according to Phil Matier of the S.F. CHRONICLE. A’s President Dave Kaval said that the team’s "first choice for building a new ballpark is still at the Port of Oakland’s Howard Terminal." Kaval: "We are still 100% committed to the waterfront ballpark at Jack London Square, but this other project in East Oakland is not only good for the city. It’s also good for the A’s." Matier noted the A’s are "looking to keep Oracle Arena and turn the Coliseum into a chopped-down 'roman ruin-like' multisports facility." The site also would include "parks, housing and a technology campus." The county will use the $85M to "pay off its portion of the outstanding bond debt on the Coliseum from the renovations needed" to bring the Raiders back from L.A. in '95. Alameda County Administrator Susan Muranishi said that when adding in other expenses for operating the Coliseum and arena, the county "expects to save" roughly $13M a year. A vote to begin negotiations on the sale is expected to be taken at the Board of Supervisors meeting tomorrow (SFGATE.com, 4/21).
