Developer misses post-election Coliseum payment but insist deal is still on

The $125 million deal to sell Oakland's stake in the Coliseum complex remains intact, despite Mayor Thao's potential recall and concerns about delayed payments.

Ray Bobbitt emphasized that the African American Sports and Entertainment Group will not terminate the agreement, countering critics of the deal amid ongoing political uncertainty.

Although the city disclosed a missed $10 million payment from AASEG, officials clarified that the delays stem from necessary approvals by the Alameda County Board of Supervisors.

City and AASEG officials stress the agreement's stability, underscoring that the ongoing political turmoil should not impact the completion of the Coliseum land sale.

Read at The Oaklandside