OAKLAND, Calif. -The Oakland Athletics and the Oakland-Alameda County Coliseum Authority have agreed on a new 10-year extension to play games at O.co Coliseum through the 2024 season, the club announced today. The agreement, which settles all outstanding issues between the two parties, will be finalized after approvals from both the Oakland City Council and Alameda County Board of Supervisors in July.

"After much diligence and cooperation from both parties, we are delighted to make this announcement today," said A's Owner and Managing Partner Lew Wolff. "We believe this agreement works well for city and county taxpayers, the team, A's fans and all involved. It provides stability for the A's while also improving fan and player experience with significant upgrades and improvements at the facility."

"This is truly a fantastic day for Oakland A's fans, Oakland taxpayers, public entities, and the team," said Coliseum Authority Chairman Nate Miley, who serves as an Alameda County Supervisor. "By reaching this agreement, both the franchise and the community have charted a course of stability for the next decade. We know that the A's and their loyal, passionate fans will be connected for years to come at the Coliseum site."

Among the terms of the new 10-year lease extension:

  • Settlement of all outstanding issues between the two parties. 
  • A commitment of more than $10 million by the A's to significantly upgrade the O.Co Coliseum, including the installation of new HD video boards, "ribbon boards" between the field and plaza level of the stadium, and associated control room equipment. The Coliseum Authority will pay for any necessary structural work. All upgrades and improvements will be completed by Opening Night 2015.
  • The contract takes into account the possibility of progress towards building a new football facility for the Oakland Raiders. If private money becomes available for such a venue, the A's and the Coliseum Authority recognize that a variety of next steps would be considered to ensure maximum flexibility for both the A's and Raiders.

The A's, who have won four World Series Championships during their time in Oakland and are vying for their third consecutive American League West title this season, will celebrate their 50th anniversary of playing in Oakland in 2018.