The Oakland City Council has agreed to amend its $125 million deal with the African American Sports and Entertainment Group (AASEG), postponing the completion of the sale of the city's Coliseum stake. This decision is tied to Alameda County finalizing its own 50% interest sale to AASEG. Over recent months, county officials have expressed progress, although a closing date hinges on the resolution of ongoing bond debt, now expected by Spring 2026, which also impacts Oakland's timeline for the sale.
The county is making progress. 'We are very close to deal terms - not entirely done - but very close,' stated Board of Supervisors' president.
Haubert mentioned optimism about the sale’s public vote, stating, 'All I can tell you is we are moving in the right direction.'
The city's decision to sell the Coliseum has been years in the making. However, Mayor Sheng Thao's announcement led to unexpected complications.
The county's sale won't close until after payoff of final Coliseum bond debt in Spring 2026, redefining the timeline for the city's transaction.
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