The Oakland Athletics are very close to signing a ten-year lease that will keep them in Oakland for the next decade or so, A's owner Lew Wolff told Bloomberg Television on Wednesday.
Per the Bay Area News Group, "Wolff, appearing on Bloomberg's "Market Makers" show, said the A's are "having a good conversation with the authorities in Oakland" on a 10-year lease that he said should be completed in the "next couple of weeks."'
A's ownership had been trying, albeit unsuccessfully, to persuade the San Francisco Giants into releasing territory rights to San Jose so that the franchise can relocate to a new stadium in the growing tech capital of the West Coast.
The Athletics' current lease at the O.co Coliseum is set to expire after the 2015 season, leading to intense speculation that the A's could be looking to relocate out of the area completely once the deal is up.
However, according to Lew Wolff, that is not an option for the franchise.
"We want to stay in the Bay Area," Wolff said. "We are a Bay Area team."
"We are not moving to Timbuktu."
Chat Sports will have more on this breaking story as more information is made available.