Major League Baseball (MLB) outfit Oakland Athletics has revealed a preferred site for its new ballpark in the team’s home city of Oakland, California.

According to the San Francisco Chronicle newspaper, the franchise is hoping to construct its new 35,000-capacity home on land near to Laney College.

The privately-financed ballpark will replace the Oakland Alameda Coliseum as the team’s home. The A’s have played at the venue since 1968.

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

The franchise has been searching for the perfect location for the ballpark since at least February and is keen to move into its new home by 2023.

Peralta Community College District owns the earmarked land near to Laney College, and the San Francisco Chronicle said that Kaval has already reached out to district chancellor Jowel Laguerre to begin talks on buying or leasing the site.

“We firmly believe that the Peralta site represents the best opportunity to keep Oakland’s last professional sports team in Oakland for the long term,” Kaval said.

“The A’s need a modern venue so that we can put the most competitive product on the field and provide the best experience for our fans.”

Kaval also hinted that the new ballpark could be used for other events as well as A’s home matches.

“We believe there are opportunities for mixed-use development … that could generate significant long-term revenue to support the college’s educational mission, and deliver a valuable and comprehensive community benefits package,” Kaval said.