Developers Steve Schott and Ken Hofmann reached an agreement to buy the Oakland Athletics in a deal that would keep the team at the Oakland Coliseum the next 10 years.
Team chairman Walter Haas wouldn’t disclose details of the agreement pending approval from other major league owners. The deal must be approved by 10 of 14 A.L. owners and eight of 14 N.L. owners.
The Haas family put the team up for sale for $85 million, with the provision the price stood only if the new owners kept the team in Oakland. The A’s have been valued at up to $30 million more than the price the Haas family was asking.