Apr 13, 2024; Oakland, California, USA; A view of empty seats for the sport between the Oakland Athletics and Washington Nationals in the course of the first inning at Oakland-Alameda County Coliseum. Necessary Credit score: D. Ross Cameron-USA TODAY Sports activities The Oakland Athletics on Monday reached an settlement to promote their 50 % possession stake within the Oakland Coliseum to the African American Sports activities & Leisure Group for $125 million.
The AASEG, a non-public, Black-owned growth group, beforehand landed a deal to purchase the opposite 50 % of the stadium web site from town of Oakland in Could.
“As Oakland natives who grew up merely blocks away from the Coliseum, and as longtime Oakland enterprise homeowners, we’re stuffed with gratitude for this chance to imagine stewardship of the Coliseum web site,” AASEG founder Ray Bobbitt mentioned in a press release.
The A’s deal nonetheless wants approval from the Alameda County Board of Supervisors. When that comes, the AASEG may have full management over the location of each the Coliseum and Oakland Enviornment, the previous house of the Golden State Warriors.
The AASEG — based in 2020 with a acknowledged objective to “create a path for enhanced financial fairness for the Black group” — plans to construct housing on the location whereas holding the Oakland Enviornment working.
The Athletics are as a consequence of transfer out of Oakland on the finish of the 2024 season. Their plan is to play a number of seasons in Sacramento earlier than their new ballpark of their ultimate vacation spot, Las Vegas, is prepared for them.
–Discipline Degree Media