Oakland Coliseum Redevelopment Project

About

  • The Oakland-Alameda County Coliseum Complex is one of the City’s largest development sites and offers a major opportunity to bring investment, jobs, and amenities to East Oakland and the region. It is approximately 112 acres and is bound by the Damon Slough Channel to the North and East, South Elmhurst Creek Channel to the South and Interstate 880 to the West. The site consists of two parcels that include the stadium, arena, parking areas, circulation routes and loading areas. It served as the home of the Oakland Raiders, Oakland A’s, Golden State Warriors and the Oakland Roots soccer club with additional sporting events, like cricket, and other concerts and events. 
  • The City and County each own a 50% undivided interest in the property, which means that the entities jointly own every part of the property. This co-ownership arrangement makes the management, sale and redevelopment of the site particularly complex. Currently, the City and County manage the property through the Oakland-Alameda County Joint Powers Authority. If either the City or the County were to sell its interest in the property, the JPA would begin to wind down its affairs and shut down.
  • The City began laying the groundwork for the redevelopment of the site with the adoption of the Coliseum Area Specific Plan in 2015. The plan defines a new mixed-use vision for the property, including new housing, retail, commercial space, sports, and entertainment uses. In the subsequent years the City and County each began efforts to sell their respective 50% interests in the property.
  • On December 23, 2019, the County entered into an agreement to sell its 50% interest to Coliseum Way Partners, LLC (CWP), which is an entity affiliated with the former Oakland Athletics.
  • In January 2023, the City Council authorized an exclusive negotiation agreement with the African American Sports and Entertainment Group (AASEG) to begin negotiating a sale of the City’s 50% interest. AASEG is an Oakland-based, Black-led developer that has partnered with Loop Capital, one of the largest Black-owned investment banks in the world.
  • In June 2024, the City Council authorized a sale of the City’s 50% interest to AASEG for $105 million, with at least $60 million to be received by June 30, 2025 and requirements for at least 25% affordable housing and a process for negotiating community benefits.
  • A month later the City entered into a corresponding sale agreement with Oakland Acquisition Company, LLC (OAC), which is an affiliate of AASEG and Loop Capital, consistent with these terms. The City amended this agreement in September 2024 to restructure the payment schedule, increase the purchase price to $110 million and add $15 million in additional payments during redevelopment of the site for a total purchase price of $125 million. The scheduled closing in 2025 remained the same.
  • In addition to the City’s 50% interest, OAC began working to also secure the right to purchase the County’s 50% interest. This would allow for more effective property management and faster redevelopment of the site. To that end, OAC has been negotiating with CWP and the County to take-over CWP’s contract to purchase the County’s 50% interest. On May 6, 2025 the City Council authorized a delay in the City’s sale to OAC to facilitate a simultaneous sale of the City and County interests to this single buyer.
  • In February 2026, the City and County made a final payment on the last remaining bond that was sold years ago to finance improvements to the stadium and arena.
  • On May 28, 2026 the County Board of Supervisors (BOS) approved a non-binding term sheet with OAC, a major milestone in OAC’s efforts to secure rights to the County’s 50% interest.
  • On July 13, 2026, the City Council will consider a second amendment to the original sales agreement between OAC and the City for the City’s 50% interest.  The proposed amendment changes the previous deal for the City in several key ways: 
    • Allows for an initial all-cash sale of the 9-acre Arena parcel to OAC, resulting in $50 million to the City by early 2027.  
    • Provides that the 103-acre Stadium parcel will be sold for $60 million with seller financing from the City. 
    • While commonly known as “seller financing,” the City would not lend any funds to OAC. The transaction would continue to resemble an installment sale with a prescribed schedule of payments from OAC to the City, similar to the original sales agreement. The key difference is that the City would now transfer ownership of the stadium parcel to OAC earlier in the process, relieving the City of significant financial liabilities associated with ongoing ownership and management of the property.
    • Includes a profit-sharing provision, where the City receives six percent of the annual gross ticket sales for all events on both the Arena parcel and Stadium parcel, creating a new ongoing income stream to the City’s General Fund.  
    • The second amendment preserves the originally negotiated sales price of $125 million ($110 million with $15 million in additional payments at certain development milestones)
    • More detail about the Second Amendment can be found in the Frequently Asked Questions FAQs below.
    •  The transaction is now expected to as early as September 2026 and no later than January 30, 2027. Once the property is sold, the buyer can complete planning, financing, and permitting for development. Commencement of new construction may still take several years.

Timeline and Links

 

Frequently Asked Questions (FAQs)

Second Amendment to the Sales Agreement between the City of Oakland and OAC for the City’s 50% Interest in the Coliseum Complex
July 2026

 

How does the second amendment change the original purchase and sale agreement (PSA) between the City and OAC for OAC’s purchase of the City’s interest in the Coliseum Complex?

The second amendment adds improved financial terms for the City and helps mitigate potential risks to the City.  It amends the original PSA between the City and OAC in several key ways: 

  1. Allows for an initial all-cash sale of the Arena parcel (approximately 9 acres) to OAC resulting in $50 million in revenue to the City as soon as September 2026 and no later than January 2027.  
  2. Provides that the Stadium parcel (approximately 103 acres) will be sold for $60 million with “seller financing” from the City, crediting the $5 million deposit that OAC provided to the City in 2024 toward the purchase price. 
  3. Requires that that outstanding payments on the Stadium parcel would be subject to interest at a rate of 5% compounded annually and secured through a deed of trust and backed by multiple mechanisms, including a guaranty or payment bond provided by a qualified third party, which would ensure the City has recourse should payments not be made, as well as financial penalties should OAC not provide the guaranty or payment bond on time.
  4.  Includes a profit-sharing provision, where the City receives six percent of the annual gross ticket sales for all events at the Arena, the Stadium parcel, and any new venues created on the property, creating a new ongoing income stream to the City’s general fund, conservatively estimated to be approximately $3 million annually.

Is the City lending OAC money?

While the structure of the Stadium parcel transaction is commonly known as “seller financing,” the City would not lend any funds to OAC. The transaction would continue to resemble an installment sale with a prescribed schedule of payments from OAC to the City, similar to the original sales agreement. The key difference is that the City would now transfer ownership of the stadium parcel to OAC earlier in the process.  This would more rapidly relieve the City of the significant financial liabilities associated with ongoing ownership and management of the property, which currently costs the City’s General Fund approximately $6 million annually

Does the second amendment change how much OAC will pay for the City’s 50% undivided interest in the Coliseum?

No. The second amendment preserves the originally negotiated sales price of $125 million: $110 million with $15 million in additional payments as OAC receives building permits. It does add a profit-sharing provision that will direct six percent of gross annual ticket sales to the City’s General Fund, a new form of revenue for the City.

When will the City receive payment from OAC for its 50% undivided interest?

The Arena sale will occur first, with OAC paying the City $50 million for the Arena parcel at closing, which would occur as soon as September 2026 and no later than January 2027.

Then OAC will pay the City $60 million for the Stadium parcel, to be paid in three equal installments after closing. The outstanding balance is subject to interest at a rate of 5% compounded annually.

The existing $5 million deposit already made by OAC will be credited toward the purchase price for the Stadium parcel.

Finally, consistent with the original sale agreement, OAC will pay the City $15 million in additional payments after closing, tied to OAC’s receipt of building permits for future development on the stadium parcel, for a total consideration paid to the City of $125 million (not including the new revenue generated from the ticket sale profit-sharing).

  1. First Payment: Due one year after securing land use entitlements, but in any event no later than five years after Closing.
  2. Second Payment: Due one year after the first payment.
  3. Third Payment: Due one year after the second payment.

When will the deal close?

OAC will take title to the Arena Parcel and Stadium Parcel in a simultaneous closing with a target date of September 1, 2026 and no later than January 30, 2027.

What happens if OAC does not make its payments on the Stadium parcel?
The outstanding payments would be secured by a deed of trust and backed by multiple mechanisms to ensure that the City is paid the outstanding Stadium parcel purchase price in full. This includes a guaranty or payment bond provided by a qualified third party, which would provide the City recourse should payments not be made. OAC would face certain financial penalties if it failed to provide this third party assurance, including a monthly escalation in the purchase price. OAC would also be required to maintain assets equal to or in excess of the outstanding Stadium Parcel purchase price to demonstrate OAC’s ability to perform. Finally, the City could foreclose on the Stadium Parcel to retake possession or sell it to another buyer.

Is OAC allowed to sell the Arena to another buyer?
Yes, after OAC takes title to the City’s interest in the Arena then OAC may sell that interest to a third-party purchaser.

What is the role of Joint Powers Authority (JPA) and what will happen to the JPA after the sale?
 The Oakland-Alameda County Coliseum Authority (JPA) is a joint powers authority established by the City and County to manage the Property on behalf of the City and the County pursuant to an Amended and Restated Management Agreement, dated as of May 1, 2000 and amended on October 21, 2025. The City and the County each equally subsidize the costs of operating the Stadium Parcel. The City’s portion is budgeted in its General Purpose Fund and provided to the JPA on an annual basis. After the City transfers ownership to OAC the City will no longer have a role in the management of the property and its associated costs. This will relieve the City’s General Fund of approximately $6 million in annual expenses. After the City sells its interest in the property the JPA will begin the process of winding down.

Who will be responsible for the operations and ongoing costs associated with managing the property?
Because the stadium currently operates at a loss, the City and County currently subsidize the operation of the Stadium by approximately $6 million each annually. Any operating subsidy will become the responsibility of OAC effective on January 1, 2027, saving the City approximately $3 million this Fiscal Year. Between the close of the sale and the end of the calendar year, the City has agreed to provide its already budgeted operating subsidy to OAC to ensure that the Oakland Roots and other stadium activities can complete their current schedule through the end of the year.

What is the status of the bonds used to fund improvements at the Coliseum Complex?
 The Property had outstanding lease revenue bond debt managed by the JPA on both the Stadium Parcel and the Arena Parcel due to past bond issuances for renovations and improvements of the property. As of February 2026, the final payment of the bond debt has been paid and the process for closing out the final bond-related documents from the Property’s title is underway.

Will OAC be required to provide community benefits to develop the Coliseum?  

Yes, OAC will be required to negotiate community benefits for the redevelopment of the Stadium parcel; the ordinance authorizing sale of the City’s 50% interest required that OAC participate in a good faith negotiation process for a community benefits related to redevelopment, including but not limited to, labor agreements and labor peace; local and small business contracting goals; workforce training and local employment provisions; living wage; public open space and parks; sustainable and green development standards; transportation infrastructure and transportation demand management programs including transit affordability and accessibility; anti-displacement and housing preservation policies; City participation in profit-sharing; and other community benefits. To ensure compliance, the PSA provides that this requirement will be written into the deed by which the property is conveyed to OAC. The Second Amendment revised the PSA so the requirement for the community benefits deed restriction is specifically tied to the Stadium parcel, which is where development would occur.

Will affordable housing be required if housing is developed at the Coliseum? 
Yes, the ordinance authorizing sale of the City’s 50% interest required that at least twenty-five percent (25%) of any residential units built on the property in the future be designated as affordable for households earning up to 60 percent (60%) of Area Median Income (AMI), with at least ten percent (10%) being made available to households earning up to thirty percent (30%) of AMI. To ensure compliance, the PSA provides that this requirement will be written into the deed by which the property is conveyed to OAC.  The Second Amendment revised the PSA so the requirement to provide affordable housing does not apply to the smaller Arena parcel, which does not have usable land area for housing construction.

Does this sale authorize any specific development project?
No, neither this amendment nor the original PSA authorizing the sale approved a specific development project on the site. In the future, OAC will need to propose a specific project and seek zoning and other discretionary approvals from the City – separate from and beyond the PSA.  

What about the Coliseum Area Specific Plan that was adopted in 2015? 
Any development on the site must conform with the Coliseum Area Specific Plan (CASP). The CASP was a City-led planning effort that involved years of collaboration between the City and community stakeholders. In March 2015, pursuant to Resolution No. 85491, the City Council certified the Environmental Impact Report, made California Environmental Quality Act (CEQA) findings, and adopted the CASP.  The CASP lays out a vision and specific policies to create a new mixed-use development in and around the Coliseum Complex, including allowable land uses and densities as well as needed public improvements and infrastructure OAC plans to develop the site consistent with the vision contained in the Specific Plan.

 

Additional Background

  1. What land is included in the Coliseum sale?
    The Coliseum Complex is approximately 112-acres in size and abuts the Damon Slough Channel to the North and East, South Elmhurst Creek Channel to the South and Coliseum Way and I-880 to the West. The site consists of two separate parcels: an approximately nine-acre parcel containing the Oakland Arena (Arena Parcel) and an approximately 103-acre parcel that includes the Oakland Coliseum and surrounding parking lots (Stadium Parcel).  It does not include surrounding sites, such as two abutting sites commonly known as the Homebase site and the Malibu lot. The City is selling its 50% undivided interest in the 112-acre Coliseum Complex site.  The City and Alameda County each own an undivided 50% interest in the property.

     

  2. Who is the Oakland Acquisition Company (OAC)?
    OAC is a partnership of the African American Sports & Entertainment Group (AASEG) and Loop Capital.   Based in Oakland, AASEG was founded in 2020 with the primary purpose of using the vehicle of sports and entertainment to create a path for enhanced economic equity for the Black community. Loop Capital is AASEG’s investment partner and is a full-service investment bank, brokerage, and advisory firm based in Chicago, IL.

 

Contact details

Oakland Public Information Officer
OaklandPIO@oaklandca.gov

Project Map

Map of coliseum project

Supporting Documents

Real Property Sale Agreement (Coliseum)(PDF, 858KB)

First Amendment to the Real Property Sale Agreement (Coliseum)(PDF, 516KB)

Exclusive Negotiation Agreement (Coliseum)(PDF, 3MB)

Final Coliseum Area Specific Plan(PDF, 20MB)

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