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The Athletics are one step closer to moving out of the Oakland Coliseum after officials announced they have decided on a spot for a new stadium.

According to Phil Matier and Andy Ross of the San Francisco Chronicle, the 35,000-seat stadium will be built on a site near Laney College in Oakland.

The team considered rebuilding on the site of the Coliseum as well as near Jack London Square but decided to build near downtown.

“Finally, we’ve got our site,” team president Dave Kaval said. “It’s really the strongest location when it comes to private financing, and that’s really an important component to be successful.”

It will also be readily accessible, close to BART and Interstate 880.

The Athletics have been searching for the perfect location since at least February, pouring millions of dollars into the search. With a stadium that is completely privately financed, however, this appears to be worth the search.

The team reportedly wants to move into the new ballpark by 2023

Until then, the A’s will compete in the Coliseum, which is one of the oldest stadiums in the country after opening in 1968. Next year the team will celebrate the 50th anniversary of being in Oakland after moving from Kansas City.

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