A’s Sell Their Share of the Oakland Coliseum to Black-Owned Development Group for $125 Million

The African American Sports & Entertainment Group will soon become the full owner of the Oakland Coliseum, as they bought the City of Oakland’s ownership share of the Coliseum earlier this year, and they just bought the other half from the departing Oakland A’s. Since the Oakland A’s are moving the franchise to Las Vegas, and they’re going to play in Sacramento for (at least) the next three seasons after this season wraps up, it’s odd that the team owned 50% of the Oakland Coliseum. The Coliseum had been traditionally owned half by the City of Oakland, and the other half owned by Alameda County. But the A’s bought out Alameda County’s half-ownership stake of the dilapidated Coliseum in 2019, claiming at the time it would (haha) help them keep the A’s in Oakland. With the A’s departure now a certainty, the City of Oakland sold their half-ownership share of the Coliseum to the somewhat new African American Sports & Entertainment Group in a deal that closed last week. But soon, the African American Sports & Entertainment Group will own the Oakland Coliseum space in its entirety. The San Francisco Business Times reports the A’s have sold their 50% stake...