‘This is on the precipice of actually occurring,’ said Ray Bobbitt, buyers’ representative

By Post Staff

After many months of complex negotiations, the Oakland Coliseum development deal is finally nearing an agreement that will open the way for new owners – the African Americans Sports and Entertainment Group (AASEG) – to revitalize the sports complex and the Hegenberger Corridor in East Oakland.

On May 28, the Alameda County Board of Supervisors unanimously approved a non-binding agreement to dispose of the County’s portion of the complex for $115 million in a deal with AASEG, with a closing date set for June 30.

“People are seeing that this is on the precipice of actually occurring,” said Ray Bobbitt, founder of the AASEG and an East Oakland native. “People feel that this needs to happen for Oakland, for East Oakland in particular,” Bobbitt said, as reported in the East Bay Times.

The agreement would transfer ownership of the 112-acre Coliseum complex property, which was owned 50-50 by Alameda County and the City of Oakland, to Oakland Acquisition Company, which is AASEG’s real estate wing.

The County’s approval marks an important step in the sale of the property, even though concerns about environmental liability remain. Under the terms of the non-binding agreement, the county will pay $115 million to Coliseum Way Partners, the corporate entity of the Oakland Athletics that had previously purchased the county’s half of the property for $85 million.

AASEG will then pay $115 million to the County in three annual payments, with 5% annual interest paid on any outstanding balance, according to the term sheet.

AASEG already negotiated a purchase of the city’s half of the property for $125 million in 2025, awaiting the sale of the county’s half.

A strong supporter of the sale, Supervisor Nate Miley said he was not “breaking out the champagne” until the sale was final. This is not perfect, but it is good.

“It’s good because the County ends up with more money,” Miley continued. “It’s good because an African American team takes ownership of the property, and they’ve got a lot of potential in terms of what they want to do with the property.”

A remaining disagreement between Alameda County and the AASEG involves environmental concerns.

AASEG wanted a “carve-out” for environmental concerns so that it would not face liability for the release of groundwater into San Francisco Bay without a permit. Obtaining a permit could be time-consuming and expensive, requiring the need for consultants, studies, and an oversight process by the San Francisco Bay Regional Water Quality Control Board.

County supervisors unanimously supported the non-binding agreement without the carve-out, though Bobbitt said delaying or excluding the carve-out creates timing risks for the project.

“The motion is to accept the terms as presented, excluding the carve-out,” Board of Supervisors President David Haubert said. “Noting that it’s a non-binding term sheet and terms can always be discussed going forward. It’s been pointed out that that could affect the deal, timing, which we’ve been at this for nine years, but what’s a little more time?”

The deal includes the sale of the Oakland Arena to an unidentified third-party buyer for no less than $100 million, which Bobbitt said was one of the most important aspects of the site’s future redevelopment.

“The arena represents an anchor of the site,” said Babbitt. “This arena … has become a pop culture mecca, and the opportunity to enhance that and expand that is critical to the overall process.”

Speaking at the Board of Supervisors meeting, Miley explained the County’s reasoning behind some of the complex negotiations. He asked interim County Counsel Andrea Weddle:

“In layman’s term’s who’s on the hook for the environmental (cleanup)” under the current deal with the Oakland A’s?

“When the county with a former board entered in the deal with the (A’s), we took on all of the environmental obligations,” Miley said. “Since then, we’ve learned a lot more about the environmental conditions of the Coliseum.”

“If we do a deal with Coliseum Way Partners (the A’s), we remain on the hook,” she said. “If we do a deal as we’ve currently structured with OAC (AASEG), we have eliminated some or hopefully all (or) as much as we can of that liability and aligned our deal with the terms of the city.”

Bobbitt, despite his concerns, supported the nonbinding agreement. He said the public has waited nearly a decade to come to this point.

“The community support has been overwhelming,” he said. “We’ve used a lot of P-words: patience, perseverance, persistence. And we’ve just had to do it, and we understand how complex this has been.”

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By Linda Parker Pennington, Special to The Post

Last Saturday morning, the cloudy skies cleared just as the highly anticipated ribbon-cutting ceremony began, marking the reopening of the Fillmore Heritage Center at 1330 Fillmore and Eddy.

The complex – which had once included Yoshi’s Jazz Club, the Lush Life Art Gallery, the Koret Heritage Lobby, a 54-seat microcinema, and the Black-owned 1300 On Fillmore restaurant – shuttered in 2015.

After serving as the economic and cultural hub of the Fillmore’s historically Black community for more than a decade, the center’s closure ended what was called the “Rebirth of the Cool,” referring to the neighborhood’s role during the height of Black Jazz in the United States.

San Francisco Mayor Daniel Lurie announcing the reopening of the Fillmore Heritage Center. Erika Scott, owner of Honey Art Studio, looks on with pride. Photo by Linda Parker Pennington.

“The Fillmore is the most important neighborhood in San Francisco’s history for centering Black culture, music, business, and community, and has shaped this City and influenced the entire country,” said San Francisco Mayor Daniel Lurie to the gathering of more than 100 community leaders, business owners, and public officials. “This building reflects the deep roots of the Fillmore. Urban renewal left deep scars that are still felt today. This Center celebrates a strong Black community that continues to shape San Francisco. I am proud to join the community as we reopen the Fillmore Heritage Center.”

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Although the previous stakeholders will not be returning to the center, spaces are available for nonprofit organizations and ventures, such as Fillmore native Ericka Johnson’s Honey Art Studio.

“This Center will be an economic engine and a thriving venue that shines a light on the Black-owned businesses in this neighborhood and lifts the entire district,” Lurie continued. “Our City is committed to this community for the long term.”

“We’re excited to collaborate with the City to finally reopen these doors,” said Ken Johnson, a videographer and community leader who’d been lobbying for the reopening of the center. “It’s an opportunity to showcase the entrepreneurship and creative spirit of this ‘Harlem of the West’ and the ‘Rebirth of the Cool,’ grounded in our uniquely gifted Fillmore community.”

This month, through its Office of Economic and Workforce Development, the city will begin renting the building’s noncommercial spaces for pop-up events celebrating local talent, arts, and entertainment primarily centered in the Fillmore.

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