Alameda County Approves Oakland Coliseum Sale to African American Developer

The Alameda County Board of Supervisors has unanimously approved the sale of its 50% stake in the Oakland Coliseum to the African American Sports and Entertainment Group (AASEG) for $125 million, marking a significant step toward full private ownership and redevelopment of the site. AASEG, which has also reached a separate deal to acquire the city's share, plans a multibillion-dollar revitalization project including housing, entertainment, and commercial spaces, aiming to stimulate economic growth in East Oakland. Community leaders and officials acknowledged the historic and complex nature of the deal, stressing that while this approval is a crucial milestone, the transaction will not close until June 30, 2026, pending satisfaction of several conditions by both the county and the city. The project has garnered strong community support, with local stakeholders emphasizing its potential to bring much-needed economic opportunity and healing to the area. While the deteriorating Coliseum is likely to be demolished, the adjacent Oakland Arena is expected to remain. The redevelopment aligns with broader efforts to address Oakland's financial challenges and to ensure the site continues to serve as a hub for community and economic activity.