The Oakland Athletics will remain at O.co Coliseum for at least two more years and the Oakland Raiders will remain for at least one, according to a report from Peter Fimrite and Benny Evangelista at the San Francisco Chronicle.
A stumbling block in lease agreement talks had been control over concessions, but the Oakland-Alameda County Coliseum Authority and the two clubs came to an agreement, according to an excerpt from the Chronicle report:
The lease approved Monday calls for the A’s to pay $1.75 million per year, including a $250,000 fee that not only keeps the A’s in control of concession revenue, but also allows the team to pick the concessions vendor.
The Raiders sought a one-year extension through the 2014 season. The team will pay $400,000 for the lease. The team receives half of parking revenue, and parking fees will rise to $35 for the 2014 season. [San Francisco Chronicle]
It had been widely reported that if the A’s were unable to come to an agreement on an extension, that the team may be forced to play at neighboring AT&T Park, home of the San Francisco Giants. That notion is now defunct.
The Raiders can leave after one year if a more suitable scenario comes available. According to the report, owner Mark Davis has expressed desire to keep the Raiders in Alameda County.