The Athletics affiliate, Coliseum Way Partners (CWP), and the African American Sports and Entertainment Group (AASEG) jointly announced a tentative agreement under which the CWP will sell its interest in the Oakland Coliseum site to AASEG for $125 million.
“The AASEG is grateful to have reached this historic agreement with the Oakland Athletics to purchase their interests in the Oakland Coliseum complex,” said AASEG Managing Member Ray Bobbitt. “As Oakland natives who grew up merely blocks away from the Coliseum, and as longtime Oakland business owners, we are filled with gratitude for this opportunity to assume stewardship of the Coliseum site. We recognize that while this is a tremendous opportunity, it is above all a profound responsibility. We graciously accept this responsibility and look forward to working with the community on this generationally transformational endeavor. We also want to thank the city and county for their unwavering support.”
“We are pleased to have reached an agreement with the African American Sports and Entertainment Group regarding our portion of the Coliseum site,” said A’s President Dave Kaval. “AASEG has a community-oriented vision for the long-term development of the site and will be strong stewards of the property. Their leadership and development provide substantial opportunities and benefits for East Oakland and the broader Oakland community.”
“I appreciate the collaboration between the A’s and AASEG and am excited for the future of the Coliseum site,” said Alameda County Supervisor Dave Haubert. “The Coliseum site is a regional asset for all of Alameda County and the entire East Bay Region. I’m excited for AASEG to be leading the effort for its revival.”
“I am very thankful that the A’s have come to agree with AASEG on the importance of their support for this development that serves all of our interests,” said Alameda County Board of Supervisors President Nate Miley.
In 2019, CWP acquired an interest in Alameda County’s half of the Oakland Coliseum site for $85 million, and the balance of this purchase was paid in early 2024. The sale of the A’s interest in the Coliseum site by CWP to AASEG is subject to approval by the Alameda County Board of Supervisors.
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