Oakland sells 50% Coliseum stake to AASEG for $105m, aiming to boost East Oakland with business, housing, and tax revenue.
Oakland sells its 50% share of the Coliseum to African American Sports and Entertainment Group (AASEG) for $105m. The deal will help avoid $63m budget cuts and aims to bring business opportunities, affordable housing, tax revenue, and community benefits to East Oakland. AASEG will pay in installments over five years, starting with a $5m payment. The city awaits negotiations with Oakland Athletics to potentially acquire their 50% share of the Coliseum complex.
July 30, 2024
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