Current：Home > NewsCity strikes deal to sell its half of soon-to-be-former Oakland A’s coliseum -Apex Profit Path
City strikes deal to sell its half of soon-to-be-former Oakland A’s coliseum
View
Date：2025-04-18 08:49:02
OAKLAND, Calif. (AP) — The city of Oakland is selling its share of the Coliseum — home to the departing Oakland Athletics — to a local Black development group for at least $105 million, Mayor Sheng Thao announced Wednesday.
The sale is not surprising after the A’s announced last month that the Major League Baseball team will temporarily relocate to West Sacramento until its ballpark is built in its new home of Las Vegas. Fans are trying to enjoy the team’s final year in the city of 400,000.
The property houses the Oakland-Alameda County Coliseum and Oakland Arena, once home to the Oakland Raiders and Golden State Warriors, respectively. The NFL’s Raiders moved to Las Vegas and the NBA’s Warriors left for San Francisco in recent years, leaving professional sports fans in the East Bay Area desolate.
The money will help fill shortfalls in the city’s budget, but city officials also say the sale to the African American Sports & Entertainment Group paves the way for a proposed sports and entertainment destination site, thousands of new affordable housing units and community benefits for historically neglected East Oakland.
“This agreement puts us on a path towards a more equitable and resilient Oakland,” Thao said in a news release.
The Oakland A’s purchased the county’s half of the site in 2019 for $85 million and is still paying it off. The sports and entertainment group reached out to the A’s to purchase their share but the team was not interested in selling.
The purchasing group was founded in 2020 with the primary purpose of using sports and entertainment “to create a path for enhanced economic equity for the Black community.”
The Oakland City Council now needs to pass an ordinance authorizing the city administrator to sign a purchase and sale agreement with the group.
veryGood！ (2512)
Related
- Stamford Road collision sends motorcyclist flying; driver arrested
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Intellectuals vs. The Internet
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- See you latte: Starbucks plans to cut 30% of its menu
Ranking
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Average rate on 30
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- 'We're reborn!' Gazans express joy at returning home to north
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
Recommendation
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Louvre will undergo expansion and restoration project, Macron says
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
Former longtime South Carolina congressman John Spratt dies at 82
What do we know about the mysterious drones reported flying over New Jersey?
NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
Stamford Road collision sends motorcyclist flying; driver arrested