Oakland (Special to ZennieReport.com) – This statement was sent to Zennie62Media, Inc.by AASEG/OAC and upon request and for the basis of the creation of this article.
The Alameda County Board of Supervisors and AASEG/OAC are entering the final stages of their negotiations to complete the disposition of the County’s 50% interest in the Coliseum Complex.
Steps to move the property into the hands of a single owner for the first time have made strong progress. Cooperative Negotiations between five different entities that are associated with the transaction have been ongoing for several months, which upon completion could finally unlock the complicated Coliseum transaction, and provide a clear pathway for the County’s 50% interest in the property to land in the hands of the Oakland Acquisition Company (OAC), an affiliate of the AASEG.
Completion of this step by Alameda County will also allow for the final business exit of the A’s and its affiliate, Coliseum Way Partners (CWP), from their almost 60-year connection to Oakland, which will certainly trigger a myriad of emotions. CWP and AASEG/OAC are working closely together to accomplish this historic transfer of leadership.
As a positive result, this critical step will also immediately open an exciting new chapter for the very important Coliseum Complex, including: providing a clear pathway for private ownership by an African American and women led organization, the opportunity for The Roots & Soul
Professional Soccer Clubs to continue playing their home season matches at the Oakland Coliseum, allowing the Joint Powers Authority to continue booking events at the highly successful Oakland Arena, while also renewing contracts with key service contractors and job
providers.
During the January 16th, 2025, Coliseum Joint Powers Authority Meeting, the President of the Oakland City Council and the President of the Alameda County Board of Supervisors, who both serve on the JPA Board, publicly agreed to organize a cooperative meeting to discuss how to best expedite the Completion of the Coliseum Deal and plan out an efficient operational transition. The planning for that meeting was formally proposed in a letter that was circulated on Monday January 26th, 2025; however, no date has been set.
Oakland Coliseum Project Progress Statements
Statement by Oakland Acquisition Corporation:
“We would like to start by thanking the County Board of Supervisors for their continued leadership in helping guide and find real solutions to this extremely complicated negotiation process. We want to thank CWP and the Athletics for being committed to finding fair solutions
We deeply appreciate our Community Partners for their stewardship of the community’s interests and for their input into the process. We also want to thank the Coliseum Joint Powers Authority for their flexibility and commitment to maintaining strong, ongoing operations at the
Complex. We would like to thank Loop Capital Markets for their steadfast commitment to helping bring investment to Oakland. We are beyond grateful to continue embarking upon this endeavor and promise to continue treating this profound responsibility with the utmost
respect, as we continue to work hard to deliver Oakland and the entire East Bay region a world class new chapter of the Coliseum Complex that our entire community can be proud of.”
Statement by President of the Alameda County Board of Supervisors:
“This process continues to make progress and move forward. We are committed to continuing positive negotiations that will secure its completion”
David Haubert -President of the Alameda County Board of Supervisors
Statement by CWP/President of The Oakland A’s:
“We remain in constructive dialogue with AASEG/OAC and appreciate their engagement and tenacity”
-Sandy Dean (President of The A’s
Statement by Chairman and CEO of Loop Capital Markets
“I am thrilled and excited to be a part of this project that will help revitalize Oakland and bring a
new beginning of economic investment to this historic city.”
-Jim Reynolds(Chairman & CEO of Loop Capital Markets
Statement by The President of Oakland Roots & Soul SC:
“We continue to support AASEG/OAC’s Acquisition of the Coliseum Complex and see a transaction with AASEG/OAC as an important step toward a successful new chapter of the site.”
-Lindsay Barenz (President of Oakland Roots & Soul SC)
Statement by D7 Councilmember and Coliseum JPA Commissioner:
“I am very proud of the cooperative efforts that are taking place to negotiate and to complete
this extremely complicated transaction. The efforts that are being made to work together by the
City, the County, The A’s/CWP and AASEG/OAC to secure a new chapter for the Coliseum to
benefit the overall Community, the Airport and the Hegenberger Corridor, through jobs and
economic growth, is unprecedented”
-Ken Houston (Councilmember and Coliseum JPA Commissioner)
For Any Questions AASEG / OAC Gives This Contact
Email: contact@aasegoakland.com