Alameda County supervisors moved a significant Coliseum ownership transfer deal forward, allowing the African American Sports and Entertainment Group to acquire the site. This follows a history of abandoned redevelopment plans by the A's. AASEG will pay $125 million to obtain both the county's and city's 50% stakes, with escrow closing set for June 30, 2026. The project intends to revitalize the Coliseum area, transforming it into housing, retail, hotels, and professional sports, thereby boosting the economy of East Oakland.
"This is another step in the right direction to get across the finish line," Supervisor Nate Miley said after a unanimous vote to advance the Coliseum deal.
The African American Sports and Entertainment Group, through the Oakland Acquisition Company, will pay $125 million to acquire Alameda County's sale of the Coliseum site.
Both deals, allowing for the transfer of ownership to AASEG, are expected to close escrow by June 30, 2026.
The revitalization is aimed at transforming the Coliseum area into housing, retail, hotels, and live professional sports, benefiting economically declining East Oakland.
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