OAKLAND, Calif. (KGO) -- Oakland A's owner Lew Wolff issued a statement Wednesday, saying the team has reached a 10-year lease agreement, to stay at the Oakland Coliseum.
At Oakland City Hall there was a closed door meeting discussing the deal.
The deal, as it currently stands, would run through 2025. But according to city leaders, it may be too early to pop the champagne.
Word that the team had reached an agreement on a lease extension that would keep them at the Coliseum for at least the next 10 years spread quickly.
The news was like catnip for A's fans.
"I'm excited about it, Oakland's excited about it and I can't wait," said A's fan Ronnie Torres.
"You know, they have a lot of fans now, more than before, so I think it's good for the city," said A's fan Angel Cordero.
The A's have called Oakland home since 1968, but the team with the best record in the American League has struggled in its efforts to get a new stadium against threats by Wolff to leave town.
Selig took to Twitter saying, the deal was a crucial first step towards keeping Major League Baseball in Oakland.
"I continue to believe that the Athletics need a new facility and am fully supportive of the club's view that the best site in Oakland is the Coliseum site," Selig Tweeted.
But problems with the current facility are common knowledge. In March the field held standing water after being saturated with rain, the coach's area of the A's clubhouse exposed serious drainage issues with toilet and showers gurgling from backed-up water in the pipes.
Still, city leaders said talks of a 10-year lease agreement being reached are premature at best.
"Fans should not exhale just yet, but we're getting close. Like I said, there are some outstanding issues that still got to be resolved," said Oakland City Councilmember Larry Reid.
Reid would not discuss what those issues were but he sits on one of the boards directly involved in Coliseum negotiations.
Oakland Mayor Jean Quan released the following statement:
"The A's have been an important part of the Oakland community and an inspiring Oakland team for decades. We are all working to make sure the A's stay here at home in Oakland. The JPA has been negotiating with the team for months. As recently as last night, they received a new counteroffer from the team, which we have not yet had opportunity to review in depth. We are still negotiating, so were surprised by the announcement of an agreement. We plan to meet tomorrow, continue negotiations, and hope there will be an agreement soon."
The deal still needs to be approved by the Joint Powers Authority, the City Council and the Alameda County Board of Supervisors.