Alameda County supervisors approve final terms for sale of Oakland Coliseum

The Alameda County Board of Supervisors approved terms for the sale of the Oakland-Alameda County Coliseum to the Oakland Acquisition Company, affiliated with the African American Sports and Entertainment Group. This agreement allows the company to purchase the county's 50 percent share for $125 million, marking a significant milestone in a nearly five-year negotiation process. Supervisor Nikki Fortunato Bas highlighted the community effort involved in reaching this point and expressed excitement for the transformative potential of the project. Supervisor Nate Miley, while pleased with the deal, noted that the terms will not be finalized until escrow closes on June 30, 2026. AASEG co-founder Ray Bobbit thanked the supervisors and county staff for their support in this monumental process.

The agreement includes provisions for affordable housing and local, union labor, aiming to benefit the broader East Oakland community. This sale represents a historic opportunity for an African American-led team to take ownership of the property, which has been a focal point for local sports and entertainment. The county prioritized protections against environmental liabilities in the deal, ensuring its interests are safeguarded.