Oakland Moves Forward on Coliseum Sale | Oakland News

Oakland’s City Council just approved a landmark deal to sell its half of the Coliseum complex for $110 million, with a revamped payment plan that includes $50 million in cash by next January and the rest in three staggered payments. The move, praised as a major boost for East Oakland’s economy and job growth, also guarantees Oakland $15 million in permits and 6% of all ticket revenue. Backed by the Oakland Acquisition Company — a joint venture between Loop Capital and the African American Sports and Entertainment Group — the deal unlocks $140 million in upgrades from Oak View Group, already a leader in live entertainment, promising a world-class experience for fans and artists. Final approval is expected soon. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/03f68679e6587378