Official announcements from AASEG or city of Oakland, major news outlets

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.