Report: Oakland to Sell Its Half of Coliseum Site
According to Casey Pratt of ABC 7 in the Bay Area, the City of Oakland and the African American Sports & Entertainment Group (AASEG) have negotiated a purchase price of $105 million for the city's half of the Oakland Coliseum site. He also says that he's heard that AASEG and the A's have negotiated a term sheet and price for the other half of the land. If this all comes to fruition, that would leave AASEG in control of the Coliseum site and its redevelopment.
We could see an official announcement as early as later today on the city side. The A's agreement may take a little extra time, but the city's sale is expected to "expedite the process" according to Pratt. The A's purchase of their half of the land became official earlier this month when they sent in the last portion of the $85 million purchase price that they owed.
As for AASEG, their goal is to use sports and entertainment to "create a path for enhanced economic equity for the Black community" per their website. One of their goals is to form the first-ever majority Black-owned NFL franchise in Oakland in a redeveloped Coliseum complex.
The $105 million sale price for Oakland's half of the site will be a great boost to the city and help with their current budget deficit of $177 million.
For A's fans, this is certainly another blow to those who are holding out hope that the team could find a way back to Oakland. John Fisher and company being willing to sell their share of the Coliseum site is a step in the wrong direction, while also providing some much-needed cash flow for the A's.
At the same time, for the fans that love Oakland, this is a bit of a hopeful moment amidst the team's presumed departure. While the A's seem destined for Vegas or Sacramento, the place that they have grown up going to sporting events is about to get a facelift and become a brand new area to create new memories with the next generation.
Sports have always been about memories and connections for many fans, and even if there isn't a sports team at the site, Oakland fans will still be able to bring their families for a day out and share some of the memories that they cherish while building a connection with the next generation.
JASON BURKE
Jason is the host of the Locked on A's podcast, and the managing editor of Inside the A's. He's a new father and can't wait to take his son to his first baseball game at the Coliseum.