Oakland Postpones Coliseum Sale to 2026 as County Negotiations Continue

City officials vote to delay the $125 million sale of their Coliseum stake to align with Alameda County's ongoing approval process and legal requirements.

• The Oakland City Council voted to delay the closing date for the sale of its 50% ownership in the Coliseum complex to early 2026, allowing for coordination with Alameda County's timeline.
• The African American Sports and Entertainment Group (AASEG) remains the buyer, with plans to transform the 112-acre site into a multi-use district featuring housing, retail, and entertainment spaces.
• The $125 million deal was initially linked to former Mayor Sheng Thao’s expedited strategy to address a budget deficit, which was abandoned following her recall in late 2024.
• Alameda County officials are still negotiating their separate sale of the other half of the Coliseum property, requiring additional documentation from AASEG, including a quitclaim deed and litigation release.
• AASEG has paid a $5 million non-refundable deposit and continues to work with city and county officials to finalize the complex transaction, which involves resolving legal and regulatory hurdles.

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