Oakland Finalizes $105M Sale of Coliseum Shares

Coliseum Sale Agreement

The City of Oakland and the Oakland A's baseball team have finalized a $105 million sale of the team's shares in the Oakland-Alameda County Coliseum.

The sale, which was approved by the Oakland City Council on Tuesday, Dec. 6, 2022, includes the transfer of the A's 50% stake in the Coliseum and surrounding land to the city.

The sale is part of a larger agreement between the city and the A's that includes the team's plans to build a new waterfront ballpark at Howard Terminal.

Agreement Details

The agreement includes the following key terms:

• The A's will pay the city $105 million for its 50% stake in the Coliseum and surrounding land.
• The city will retain ownership of the Coliseum and surrounding land.
• The A's will have the right to develop the Coliseum site for non-baseball uses, including housing, retail, and commercial space.
• The A's will have the right to build a new waterfront ballpark at Howard Terminal.

Benefits to the City of Oakland

The sale of the Coliseum shares is expected to bring several benefits to the City of Oakland, including:

• Increased revenue: The city will receive $105 million from the sale, which can be used to fund other city priorities.
• Reduced maintenance costs: The city will no longer be responsible for the maintenance and upkeep of the Coliseum.
• New development: The sale of the Coliseum site could lead to new development in the area, which could create jobs and boost the local economy.

Next Steps

The sale of the Coliseum shares is a major milestone in the A's plans to build a new ballpark at Howard Terminal.

The A's must now submit a formal proposal to the city for the new ballpark, which will be subject to environmental review and public approval.

If the ballpark proposal is approved, the A's could begin construction on the new ballpark as early as 2024.