The Oakland A's and Oakland Raiders will call O.co Coliseum home for the 2014 season. (Ezra Shaw/Getty Images)
The Oakland Athletics will remain in O.co Coliseum through the 2015 season, agreeing to terms on a lease extension with the city of Oakland on Monday, according to Peter Fimrite and Benny Evangelista of the San Francisco Chronicle.
The Oakland-Alameda County Coliseum Authority also approved a one-year lease extension for the Oakland Raiders, which means the team can move after the 2014 season.
Both lease extensions were approved on 7-1 votes, according to the report.
The Athletics have played in the stadium since 1968, and the facility has been plagued with numerous problems over the years, including major sewage problems that forced the team out of its locker room this past season.
"We negotiated the best deal we could at this particular moment," Nate Miley, Coliseum Authority president and an Alameda County supervisor, said Sunday. "We could win the battle and lose the war. But we're looking at the greater good, looking to try to work out a deal to keep them here permanently."
More from the Chronicle:
The A's are receiving a significant concession from the Coliseum board more control over the stadium's food services and revenues.VERDUCCI: The worst positions in baseball -- and how to fix them
The Raiders sought a one-year extension through the 2014 season. The team will pay $400,000 for the lease. The team receives half of parking revenue, and parking fees will rise to $35 for the 2014 season.