The African American Sports & Entertainment Group (AASEG) based in Oakland, California, has made a bold move by reaching out to the Athletics and their representatives with an offer to acquire the 50% interest in the site where the Oakland Coliseum sits. The group intends to develop the site further. This offer comes following the A’s plan to relocate to Las Vegas, which has prompted AASEG to make a follow-up offer. The aim is to discuss equitable buyout conditions in the coming weeks to transfer contractual entitlement.
AASEG’s Vision for the Coliseum Site
AASEG, founded in 2020, has a primary purpose of using sports and entertainment to create opportunities for enhanced economic equity for the Black community. They envision the Coliseum site as a thriving sports, entertainment, educational, and business district in East Oakland. The group also aims to form the first majority Black-owned NFL franchise in Oakland. With significant community support, AASEG is eager to transform the Coliseum site into a dynamic hub that benefits the local community.
In 2019, the A’s purchased Alameda County’s 50% share of the Coliseum site for $85 million. They are still paying off this purchase, while the city of Oakland owns the other half of the stadium. As the A’s plan their relocation to Las Vegas, the future of the Coliseum remains uncertain. The team is currently in the final year of their lease agreement to play at the Coliseum. While the possibilities for their temporary home are still unknown, options such as extending the current lease have been considered.
During the MLB’s owner meetings, Commissioner Rob Manfred expressed confidence in the Las Vegas plan, both in the short and long term. He stated that he would be disappointed if the new Las Vegas stadium did not open on time for Opening Day in 2028. In terms of an interim home for the A’s from 2025 to 2028, Manfred confirmed his satisfaction with the progress made so far. While there are still uncertainties about the A’s future locations, the MLB is optimistic about the outcome.
AASEG emphasized the increasing public demand for prompt redevelopment of the Coliseum site in their letter to the A’s ownership. The community sees an opportunity to revitalize the area and unlock its potential. The development group has gained significant community support for their vision and mission. With the intention of ensuring equitable buyout conditions, AASEG aims to collaborate with the Athletics and their representatives to transition the site into a new era of growth and prosperity.
While the A’s have made plans to relocate to Las Vegas, the future of the Oakland Coliseum remains uncertain. However, with AASEG’s proactive initiative and their commitment to community development, there is hope for a transformative future for the Coliseum site. As discussions unfold and potential plans are explored, it is essential to prioritize the needs and aspirations of the local community. By engaging in thoughtful dialogue and collaboration, a bright future for the Coliseum can be achieved.
The African American Sports & Entertainment Group’s offer to acquire the Oakland Coliseum site presents an exciting opportunity for development, economic equity, and community enhancement. As the A’s consider their future, it is crucial to evaluate all options and potential partnerships that align with the desires of the local community. The vision put forth by AASEG showcases a future where sports, entertainment, education, and business combine to create a thriving district that benefits the entire community. By seizing this opportunity, Oakland can shape a new chapter for the Coliseum site, ensuring its continued significance and impact.
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