OAKLAND, Calif. (BCN) - The Alameda County Board of Supervisors will vote on Tuesday on whether to begin formal negotiations on a proposed deal in which the Oakland A's baseball team would buy the county's half ownership of the Coliseum complex for $85 million.
County Administrator Susan Muranishi wrote in a memo to the board that, "The parties (the county and the A's) have reached agreement to terms satisfactory to both parties and are prepared to begin discussions to formulate a binding agreement."
The county and the city of Oakland jointly share ownership of the 155-acre Coliseum site.
The city of Oakland had considered buying out the county's share and taking full control of the site but nothing was ever finalized.
The proposed deal comes as the Oakland A's, who currently play at the aging Coliseum stadium, are pushing a plan to build a new baseball stadium at the Howard Terminal waterfront site north of Jack London Square.
The A's say they want to redevelop the existing Coliseum complex into a site that could include a large park, housing and businesses.