A lawsuit settlement that would open up waterfront land for a baseball stadium might not prevent the A's from leaving Oakland, but, in the near term, it is a certain money loser for the Port of Oakland.
Specifics of the deal that would resolve a lawsuit brought by SSA Terminals shows the port taking roughly a $40 million hit over the next four years by allowing the company out of its lease at the Port's Howard Terminal.
SSA had sued to get out of its lease after a competitor got a better deal. The settlement essentially gives SSA what it wanted by moving it to terminals down the harbor, but denies the port the $10 million a year it was collecting from SSA's operation of Howard Terminal, which Oakland stadium boosters see as the best available site for building a new home for A's.
Should the Board of Port Directors approve the settlement Tuesday, the terminal would be vacated and Oakland could argue that it has control of a waterfront stadium site for the A's.
Port officials said the deal would still be a long-term boon because it would extend major contracts that were set to expire in three years and help with development of larger terminals needed to help the port stay competitive.