Lost in the arguments between those who would like to see the Oakland Athletics stay in Oakland and the blasphemous hordes who would prefer they relocate (to what can only be described as a little piece of Phoenix within the greater Bay Area) is that this move only makes sense as long as Wolff continues to have an ownership stake. Due to his involvement with high-priced hotels along San Jose’s storied and striking “downtown skyline”, Wolff stands to gain personally and is in quite a unique position to do so.
Any new ownership group looking to move the team south would be at a major disadvantage where it concerns related real estate deals (parking lots, ballpark villages, etc.) due to the downtown area being severely overvalued. Where Wolff bought early at a slightly discounted rate, any new owner would be buying at the top of a market with extremely limited profit potential.
It’s also much higher of a risk than anyone is really considering. When’s the last time you’ve heard of a successful startup coming out of the south “bay”? Silicon Valley has been moving steadily north due to the real estate market for about a decade. Tech companies are leaving the area in droves for cheaper digs and better access to engineering talent. The companies that are staying aren’t building or spending locally. The idea that San Jose is some kind of tech mecca is completely anachronistic and relies on companies that are doing their damnedest to limit south bay growth.
Buying equivalent land in Oakland would be dramatically cheaper, and contributing to rebuilding the area creates a ton of profit potential. A company as big as Clorox wouldn’t be backing a new Oakland stadium if it wasn’t in their financial interest. For them, building in San Jose simply wouldn’t be worth it..otherwise they’d be backing Wolff and the bid to move the team south, yeah?