The city of Oakland had approved a measure to put a $15 million bond issue on the ballot in June to pay for the construction of a stadium.
Jack Rector, an auto dealer on the San Francisco Peninsula, had said he was interested in investing in a Bay Area franchise.
Francis Dunn, Chair of the Alameda County Board of Supervisors, suggested that a racetrack at the Alameda County Fairgrounds in Pleasanton could be used as a temporary home for an East Bay team.