Courthouse News Service: Oakland approves Coliseum deal in largest public land transfer to Black investors in city history
OAKLAND, Calif. (CN) — A deal to redevelop the Oakland Coliseum is now the center of the largest public land transfer to Black investors in the San Francisco Bay Area city’s 171-year history.
Oakland city leaders officially signed a new agreement Thursday with the African American Sports and Entertainment Group to negotiate a 50% interest in the Coliseum complex, long the home of local sports teams like the Oakland A’s.
For years, the A’s managers have blamed the Coliseum’s conditions for their desire to build a new ballpark in West Oakland, a goal which East Oakland leaders have criticized. But to the Oakland-based, Black-founded African American Sports and Entertainment Group, the Coliseum Complex represents a major economic opportunity for East Oakland.
