The Oakland A's and AASEG have agreed to terms on the sale of half of the Oakland Coliseum site.
Coliseum Way Partners , an Oakland A's affiliate, and the African American Sports and Entertainment Group made a joint announcement on Monday that they have a tentative agreement for AASEG to buy the half of the Coliseum that the A's own 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.
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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