Official announcement from the Oakland Athletics or related press release

Oakland Athletics Leaving, Coliseum Sale Amended for $20 Million More

Oct 7, 2024, 05:30 PM

The Oakland Athletics, the last major professional sports franchise in the East Bay, are leaving town. Oakland Mayor Sheng Thao's office confirmed that the city and the developers buying the 112-acre Coliseum entertainment complex have revised the terms of their deal. The buyer, African American Sports and Entertainment Group (AASEG), will pay $20 million more than originally agreed. The city has also received an outstanding $10 million payment from AASEG. The amended purchase and sale agreement (PSA) allows AASEG to begin development of the Coliseum site quicker and delivers additional funds within the fiscal year.