OAKLAND, Calif. – A new potential buyer has emerged for the Oakland Arena, matching and exceeding a previous offer for the venue.
Legends Global, the company that has managed the arena since 2012, has submitted an offer of $102.5 million to purchase the facility, the San Francisco Chronicle first reported. As part of its proposal, the company is also offering to share a portion of the arena’s billboard advertising revenue with both the city and the county.
The bid follows action last month by the Alameda County Board of Supervisors, which approved allowing the sale of the arena.…