Oakland Athletics’ Offer To Pay $135M For Ownership Of The Coliseum
The Oakland Athletics have publically announced their desire to have full ownership of the Oakland-Alameda County Coliseum.
Per Bleacher Report, the team has sent out a letter to Oakland Mayor Libby Schaaf saying that they will pay over $135 million in city and county debt in exchange for control of the complex:
We want to assume control of the Coliseum in exchange for paying more than $135 million of City and County debt.
— Oakland Athletics 🌳🐘⚾️ (@Athletics) March 26, 2018
The Coliseum is currently co-owned by the City Of Oakland and Alameda County. A’s president Dave Kaval included that paying the debt would alleviate the ‘cash drain’ on the city and Alameda County.
The A’s have played in the Coliseum since 1968 and have been searching for an opportunity for a new ballpark.
A’s president Dave Kaval called the Coliseum the:
“one site in Oakland that offers an assured path for development of a new privately financed baseball venue.”