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What will be the total investment amount announced for the Coliseum redevelopment project by end of 2024?
3
Resolution / Starting Odds
Less than $500 million • 25%
$500 million to $1 billion • 25%
$1 billion to $1.5 billion • 25%
More than $1.5 billion • 25%
Official announcements from AASEG, city of Oakland, major news outlets
Story
Oakland A’s Sell Coliseum Stake to African American Sports Group for $125M, Making $40M Profit
Aug 5, 2024, 03:15 PM
The Oakland A’s baseball team has agreed to sell its ownership stake in the Coliseum to the private Black-owned African American Sports and Entertainment Group (AASEG) for $125 million. This tentative agreement will provide substantial opportunities and benefits for Oakland, according to a statement from the team. The A’s will make a $40 million profit from the sale. This transaction completes the transfer of the massive sports and entertainment complex to the private sector, paving the way for a significant redevelopment project. Previously, AASEG had reached a deal with the city for their 50% stake in the site, and now they will have full ownership of the Coliseum.
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