Alameda County Approves A's Oakland Coliseum Deal

Major Step Forward for Oakland Coliseum Development

The former Oakland Athletics baseball team has taken a significant step toward selling its share of the Oakland Coliseum to a private development group. This move marks a crucial milestone in a complex deal that could bring substantial economic benefits to Oakland. The Alameda County Board of Supervisors unanimously approved the agreement, which will transfer part ownership of the major sports and entertainment complex from the MLB team to the African American Sports and Entertainment Group (AASEG), an investment group focused on community development.

The county's approval brings the local development group closer to becoming the first sole owner of the Coliseum following years of negotiations with previous owners, including the team, the City of Oakland, and Alameda County. The sale is scheduled to close on June 30, 2026. Jim Reynolds, CEO of Loop Capital, which is financially backing AASEG, expressed his satisfaction with achieving this long-awaited milestone.

In August, the development group struck a deal with the A's to purchase the team's share of the 155-acre site for $125 million. The team had purchased interest in the Coliseum from Alameda County in 2019 for $85 million. Selling its share to AASEG required approval from county supervisors, which delayed the vote for months before it was finally taken up during a Tuesday afternoon meeting.

David Haubert, president of the board of supervisors, described the transaction as complicated and requiring patience and persistence at each juncture. While acknowledging the progress made, he emphasized that more steps need to be completed before the deal can be finalized. If not finalized by the closing date, the transaction will become void.

The county's approval comes at a time when Oakland is facing a financial crisis. Earlier this year, city officials implemented a hiring freeze and layoffs while slashing police overtime as part of its budget for the new fiscal year. The City Council is hoping voters will pass a new parcel tax next year to help improve its finances.

AASEG reached a separate deal in August with the City of Oakland to buy the other half of the Coliseum for $105 million. However, the closing date for that sale has been delayed to early next year to align with the county transaction. Oakland Mayor Barbara Lee emphasized the importance of the Coliseum as a place rooted in community, culture, and pride, and expressed her commitment to ensuring the project creates real opportunities for East Oakland.

AASEG has proposed a multi-billion revitalization project at the site, including housing, restaurants, and other entertainment developments. Although details have not yet been unveiled, a city ordinance related to the development project mandates that a quarter of the new housing be affordable. It also includes a community benefits agreement that will address labor standards.

Supervisor Nikki Fortunato Bas highlighted the historic nature of the vote, noting that East Oakland has historically faced disinvestment. She believes this development paves the way for economic growth in partnership with the City of Oakland.

AASEG has stated it will not tear down the Coliseum, where the A's played for decades before relocating this season to Sacramento, or the Oakland Arena, the former home of the NBA's Golden State Warriors. The NFL's Raiders also played off and on at the Coliseum until 2019.

Sandy Dean, vice chairman of the A's, called the supervisors' approval an important step for the future of the Coliseum site. More than a dozen people spoke in support of the agreement at the meeting, including community leaders, union representatives, and other Oaklanders, who emphasized the potential for low-income housing and living-wage jobs.

Supervisor Nate Miley, whose district includes the Coliseum, described the Black-led development project as a "tremendous, historic, transformative undertaking." Reflecting on his experience as a city council member in the 1990s, Miley acknowledged the challenges of losing Oakland's three professional sports teams but expressed optimism about the future. He believes the project will bring greater benefits than previously imagined.