The Board of Port Commissioners approved entering into exclusive talks Thursday with a business consortium seeking build a waterfront stadium for the Oakland A's.

A's co-owner Lew Wolff reiterated this month that he has no interest in building a stadium at Howard Terminal, but that hasn't deterred the port or the business consortium, which includes Clorox CEO Don Knauss, developer Mike Ghielmetti and former Dreyer's Grand Ice Cream CEO T. Gary Rogers.

The business group hopes to eventually secure an additional two-to-three-year option period during which they would apply for permits and conduct an estimated $1 million environmental review of the site. The agreement approved 5-0 with one abstention Thursday only requires them to deposit $100,000 with the port, half of which could be used for studies such as land appraisals and site surveys.

Wolff has said the recently-vacated terminal, situated just north of Jack London Square, is too far from BART and would require a costly environmental cleanup.

Oakland business leaders prefer the port site to the A's current home in East Oakland because they think a waterfront stadium could spur additional development around Jack London Square and the city center.