April 13, 2024; Oakland, California, USA; A scene of empty seats during the first inning of the game between the Oakland Athletics and Washington Nationals at the Oakland-Alameda County Coliseum. Mandatory Credit: D. Ross Cameron-USA TODAY Sports The Oakland Athletics reached an agreement on Monday to sell 50% of their ownership of the Oakland Coliseum to African American Sports and Entertainment Group for $125 million.
AASEG, a Black-owned private development group, previously reached an agreement in May to purchase the other 50% of the stadium from the city of Oakland.
“As Oakland natives who grew up just blocks from the Coliseum and long-time Oakland business owners, we are grateful for the opportunity to assume stewardship of the Coliseum site,” AASEG founder Ray Bobbitt said in a statement.
The A’s deal still needs to be approved by the Alameda County Board of Supervisors. At that point, AASEG will have full control of the arena and the Oakland Arena, the former home of the Golden State Warriors.
AASEG, formed in 2020 with the stated goal of “creating a path to enhanced economic equity for the Black community,” plans to build housing at the site while keeping Oakland Stadium open.
The sports teams will move out of Oakland at the end of the 2024 season. The plan is to play multiple seasons in Sacramento before a new stadium is ready for them in Las Vegas, their final destination.
–Scene-level media
