Sale of Oakland Coliseum May Be Going Sideways, as East Bay Politicians Dig In on Turf Wars

East Bay elected officials are delaying the $250 million sale of the Coliseum for further due diligence, impacting payment timelines and the City of Oakland's finances.

Alameda County has stalled the sale by refusing to approve any deals, prioritizing the right steps even if that means a little delay. Supervisor David Haubert stated, 'As far as a timeline goes, I'm pressing for as fast as it can happen... that we take the right steps to do it right.'

There were concerns regarding AASEG’s financial capability to fund the sale. However, it appears that their primary financier, Loop Capital, has secured the necessary funds in escrow.

AASEG previously acquired the A's $125 million stake in the Coliseum, with plans for complete ownership totaling $250 million through a two-part payment process.

Read at sfist.com