Latest / Oakland News Today | 2 Min News | The Daily News Now!
Oakland Moves Forward on Coliseum Sale | Oakland News
Oakland’s City Council just approved a landmark deal to sell its half of the Coliseum complex for $110 million, with a revamped payment plan that includes $50 million in cash by next January and the rest in three staggered payments. The move, praised as a major boost for East Oakland’s economy and job growth, also guarantees Oakland $15 million in permits and 6% of all ticket revenue. Backed by the Oakland Acquisition Company — a joint venture between Loop Capital and the African American Sports and Entertainment Group — the deal unlocks $140 million in upgrades from Oak View Group, already a…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.