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fter a five-month wait, Alameda County officials have agreed to enter into final talks with the African American Sports and Entertainment Group (AASEG) over the sale of the Oakland Coliseum. The county Board of Supervisors voted to begin a 30-day negotiation period with AASEG, which plans to buy the county's share of the Coliseum complex for an undisclosed price. This deal is contingent on AASEG agreeing to cover environmental cleanup costs and release the Oakland Athletics from future obligations on the property.

    The proposed $5 billion redevelopment project would transform the 112-acre complex into a mixed-use site with housing, hotels, a new convention center, and other amenities. As part of the agreement, AASEG has already purchased the city's share of the Coliseum for $105 million and the Athletics' half for $125 million.

    The county's approval is crucial to moving forward with the sale, as it needs to release its 50 percent stake in the complex before the deal can be finalized. Once an agreement is reached, AASEG will pay another $10 million into Oakland's escrow account, allowing the city to access funds from the sale when it closes at the end of May. The city is facing a significant deficit and has been forced to slash services.

    AASEG's Ray Bobbitt said the county's vote adds certainty to the deal, stating that "everybody involved in the transaction is on the same page and wants to make it happen." With 30 days to reach terms with the county, AASEG must now navigate these final hurdles before the sale can be completed.