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Alameda County Approves Coliseum Stake Sale, Clearing Way for $5 B Oakland Redevelopment

The vote empowers AASEG’s affiliate to proceed with title transfer toward a June 2026 closing under mandated equity standards

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Australian cricket legend Adam Gilchrist demonstrates how to swing a cricket bat in front of Oakland Ballers players and staff at the Oakland Coliseum recently. Alameda County officials voted Tuesday to approve the Oakland As' sale of its half of the facility to an investor group.
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Fireworks are projected after the Washington Freedom scored six against the San Francisco Unicorns during the inaugural Major League Cricket opener at the Oakland Coliseum in Oakland, Calif., on Thursday, June 12, 2025. (Ray Chavez/Bay Area News Group)

Overview

  • The Alameda County Board of Supervisors voted unanimously to transfer its 50% ownership stake in the Coliseum site to Oakland Acquisition Company, an affiliate of the African American Sports and Entertainment Group.
  • AASEG’s affiliate will pay $125 million to both Alameda County and the City of Oakland to consolidate full ownership of the 112-acre complex, with escrow set to close by June 30, 2026.
  • With the county hurdle cleared, the developer can begin site due diligence, resume its payment schedule and launch negotiations for a community benefits agreement with East Oakland stakeholders.
  • The coalition plans a $5 billion mixed-use project featuring housing, retail, entertainment venues and sports facilities on the aging Coliseum grounds.
  • Oakland’s development ordinance requires at least 25% of new housing to be affordable and enforces union labor standards to ensure the project addresses long-standing disinvestment in East Oakland.