OAKLAND, Calif. ( KRON ) — Oakland Mayor Sheng Thao and several city council members continue to send different messages regarding the state of the city’s plan to sell its stake in the Oakland Coliseum and the ripple effects that the ever-evolving sale could cause.
According to Councilmember Janani Ramachandran, the city administrator’s office has triggered a “contingency budget” put into place if certain installments from the sale were late to arrive. Thao says that while the deal has been altered, it is still moving forward and “is great for Oakland.”
The city based its latest budget around the deal, which entailed the African American Sports & Entertainment Group (AASEG) paying more than $100 million for a 50% stake in the Oakland Coliseum. If the deal fell through, the city would have to trigger a contingency budget that includes slashing its police force and closing several fire stations.
SFO ‘manipulated results’ on new airport name confusion: Port of Oakland
Ramachandran said in a lengthy video posted to her Instagram on Tuesday that aspects of that budget have already been put into place. Not all the cuts will happen immediately, and the city administrator will decide the order, Ramachandran said.