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Wednesday, January 26, 2005

A's Sale "All But Complete"

According to the Alameda Times-Star, the sale of the Oakland A's to LA hotel magnate Lewis Wolff "is all but complete". Wolff has a deposit in escrow, with an estimated sale price between $150 and $170 million. Steve Schott, in an interview with the Contra Costa Times, downplayed the Times-Star report, saying numerous additional hurdles remained before the sale could be completed. Wolff is a former fraternity brother of MLB Commissioner Bud Selig at the University of Wisconsin, and a classmate of Chisox owner Jerry Reinsdorf's at Rice University. The team originally sold in 1995 for $80-85M, though some sources say it sold for less.
Thus far, Wolff's efforts in finding a new park have yielded only a proposed site in the parking lot of Network Associates Coliseum. Wolff has stated publicly that he would like to see through the A's efforts to build a park in Oakland and that he will not try to find a site in the Santa Clara County. Any attempts to do the latter would hurt his chances for approval because Selig repeatedly has said the territorial rights to Santa Clara County belong to the Giants.

The A's lease with the Coliseum runs through 2007, and the team has three one-year options it can exercise for 2008, 2009 and 2010.

Update: Again confirmed in this Reno, NV Fox affiliate report, quoting Alameda County Supervisor Gail Steele as saying the sale is "taking place as we speak".

Why not Sacramento? If you look at population trends, its a logical place to go rather than share the bay area with the giants.
Rumor has it Wolff plans to change the team name to "The Los Angeles Athletics of Oakland".

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