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Board grants conditional consent to transfer Alameda County's Coliseum interest to Oakland Acquisition Company
Summary
After a staff report and extensive public comment, the Alameda County Board of Supervisors voted unanimously to grant conditional consent to assign the county's disposition agreement for its 50% interest in the Oakland-Alameda County Coliseum Complex to the Oakland Acquisition Company (OAC), with key closing conditions and due diligence requirements.
The Alameda County Board of Supervisors unanimously approved a conditional consent to assign the county's disposition agreement for its 50% undivided interest in the Oakland-Alameda County Coliseum Complex from Coliseum Way Partners (CWP) to the Oakland Acquisition Company (OAC), and also approved a second amendment to the disposition agreement.
Staff presentation and key terms: County staff and GSA Director Kimberly Gassaway summarized negotiated terms: the county will release CWP from obligations and liability upon close of escrow; OAC must provide due diligence information at least 45 days prior to closing and comply with the Levine Act (Gov. Code —— 84308); close of escrow is targeted on or before June 30, 2026; certain county hazardous-material indemnities were deleted; OAC agreed to maintain a minimum net worth ($30 million) for two years after closing as security for obligations to the county; and OAC will provide representations and warranties to the county consistent with the original disposition agreement.
Public response: Dozens of speakers addressed the board. Supporters from labor, building trades and community organizations — including Ray Bobbitt (OAC representative), Jason Lindsey (Ironworkers Local 378) and JP Anthony (Painters and Drywall Finishers Local 3) — urged approval, citing job creation, union commitments and neighborhood economic benefits. Community-service providers and youth housing groups urged negotiation of a legally binding community benefits agreement that protects nearby service providers from displacement and secures affordable housing commitments. Some public commenters raised concerns about timing and potential conflicts and asked the county to prioritize local hiring, affordable housing levels and protections for vulnerable neighbors.
County counsel clarification: County counsel emphasized the county's agreement is with OAC, not the athletic group AASEG/ASG; the distinction matters for reporting and legal clarity.
Board deliberation and vote: Supervisors praised the lengthy negotiations and described the measure as a step toward unified ownership that could enable comprehensive redevelopment and community benefits. Supervisor Nate Miley called the transfer “another step in the direction to get us across the finish line” and said closing conditions still must be met. Supervisor Fortunato Bass and others reiterated commitments made elsewhere (25% affordable housing deed restrictions adopted by the City of Oakland, labor standards, local hiring expectations). The board voted aye on the motion to approve conditional consent and the second amendment by roll call: Marquez, Miley, Fortunato Bass and President Halbert voted yes; Supervisor Tam was excused.
Outcome and next steps: The board's consent is conditioned on the assignment and closing by the parties; staff said litigation by a third party (CBE) is stayed until closing. County staff will continue to negotiate and enforce community benefits and monitor conditions required for close of escrow. The board invited OAC and community representatives to a commemorative photo after the meeting.
Ending: The board called the action a historic step for East Oakland but emphasized that conditions remain and the sale will not be complete until closing conditions and due diligence are satisfied.
