As Oakland Arena’s popularity as a concert venue continues to soar, a group that was co-founded by a music industry executive is considering purchasing the venue, which would be part of a larger sale of the entire Oakland Coliseum Complex.
The purchase of the 155-acre Oakland Coliseum Complex, including the arena and stadium, by Oakland nonprofit, the African American Sports & Entertainment Group (AASEG), is slowly proceeding, as the Chronicle reports. The complex is currently split 50-50 between the city of Oakland and Alameda County, and the county’s portion is tied up in an old deal with the A’s.
As SFist reported previously, AASEG, which is run by Oakland community leader Ray Bobbitt and sponsored by Chicago-based Loop Capital, agreed to buy Oakland’s half of the complex in 2024, and the group reportedly agreed to purchase Alameda County’s half last July. The deal has been a long time coming…