Connect with us

Bay Area

Mayor Sheng Thao Signs Amended Agreement to Sell Coliseum for Higher Price, Paid in Current Fiscal Year

The City of Oakland and the African American Sports & Entertainment Group (AASEG) have signed an amended Purchase and Sale Agreement for the City’s half of the Coliseum site. The new agreement results in a total price increase of 14% to $125 million and accelerates the payment schedule for the City to receive $110 million within the current fiscal year. The previous agreement had a purchase price of $105 million with $60 million being paid by June 30, 2025.

Published

on

File photo of Ray Bobbitt at a Raiders game at the Oakland Coliseum.
File photo of Ray Bobbitt at a Raiders game at the Oakland Coliseum.

By Post Staff

The City of Oakland and the African American Sports & Entertainment Group (AASEG) have signed an amended Purchase and Sale Agreement for the City’s half of the Coliseum site.

The new agreement results in a total price increase of 14% to $125 million and accelerates the payment schedule for the City to receive $110 million within the current fiscal year. The previous agreement had a purchase price of $105 million with $60 million being paid by June 30, 2025.

Under the ordinance authorizing the sale, Mayor Sheng Thao secured additional funds to be received within a shorter timeframe to enable the transformative investment and redevelopment of the Coliseum site.

The acceleration of the deal will also allow AASEG to take title and begin development of the site sooner than the original agreement. The additional revenue received by the City of Oakland will increase general fund resources for city-wide services, including public safety and fire services.

The new agreement requires both parties to close the deal within the fiscal year, triggering early defeasement of the last Arena bond payment of $4.2 million. As such, the amendment obligates the buyer to pay all early defeasement costs for the City and County.

According to Google, the defeasance process is a means by which borrowers can replace the collateral used on a mortgage loan with another asset or substitute collateral—usually a portfolio of government bonds backed by the U.S. Treasury, or, typically, the collateral on a mortgage is the home or property

“This amended agreement with AASEG is a win-win,” said Thao. “The City secured a higher purchase price with faster payments. This structure also allows AASEG to kickstart their historic investment in East Oakland and create jobs and economic opportunity sooner than under the original agreement.”

“We are very grateful for the hard work of the City team in helping reach our amended agreement,” said AASEG Managing Member Ray Bobbitt. “The creation of jobs, housing, art, clean green space and a new generation of Sports and Entertainment at the Coliseum site cannot wait; and will provide a certain pathway to the revitalization of East Oakland through massive investment.”

In a statement, Thao urged Councilmembers Janani Ramachandran and Treva Reid to base their statements on facts and not spread misinformation.

“Councilmembers Reid and Ramachandran were briefed for two hours on Monday by the City Administrator, Finance Department, and the Coliseum Negotiating Team. They were extensively filled in on the amended deal terms, financial conditions of the organization, and provided ample time to seek answers to their questions, including commitments to follow up.

“During that time they were urged as elected officials to only share accurate and verified information with the public given their position as public officials,” said the mayor.

“The Coliseum deal is great for Oakland, and it is neither the cause of nor full solution to the City’s budget deficit,” she continued. “Nonetheless, I expect it to help save us from the most drastic public safety cuts. And, in the meantime, we are creating both temporary and permanent solutions to the decades-long budgetary challenges we face here in Oakland.”

“(The councilmembers) are welcome to be part of the solutions, not (to) deepen mistrust with false information and further divide us,” Thao said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Mayor Barbara Lee Joins National Public Safety Leaders to Advance Proven Violence Reduction Strategies

Oakland Mayor Barbara Lee attends a two-day meeting with other mayors and public safety leaders to discuss violence reduction strategies; Oakland has seen a 39% drop in homicides.

Published

on

Oakland was one of four cities participating in a public safety convening.  Courtesy image.
Oakland was one of four cities participating in a public safety convening.  Courtesy image.

By Post Staff

Mayor Barbara Lee this week joined Baltimore Mayor Brandon Scott, Philadelphia Mayor Cherelle Parker and public safety leaders from Oakland for a two-day meeting focused on advancing cutting-edge public safety strategies, including focused deterrence and violence reduction.

The meeting brought together civic and public safety leaders from Oakland and Indianapolis to locations in Baltimore and Philadelphia to share lessons learned and identify innovative approaches to crime prevention, intervention, and enforcement.

The participating cities are widely recognized for pioneering community-centered public safety models that prioritize prevention, accountability, and sustained investment in neighborhood-based solutions

Oakland’s delegation included Department of Violence Prevention (DVP) Chief Holly Joshi, Oakland Police Department Assistant Chief Casey Johnson, and Ceasefire Director Annette Jointer.

Oakland’s participation underscores its continued leadership in advancing evidence-based violence reduction strategies and building a public safety system that integrates law enforcement with community intervention and prevention programs.

Oakland continues to see historic reductions in violence, reflecting coordinated efforts across the Department of Violence Prevention, Oakland Police Department, Ceasefire, and community-based partners, including:

  • Violent crime down 22%
  • Homicides down 39%
  • Lowest homicide total in nearly 60 years

These gains reflect sustained investment in focused deterrence strategies, real-time intervention, and expanded community violence interruption programs.

“Public safety is not achieved by any one agency alone—it requires coordination, trust, and a shared commitment to prevention and accountability,” said Lee. “We are proud to stand alongside cities like Baltimore, Philadelphia, and Indianapolis that are proving what works. We are seeing real progress in reducing violence in our communities, and we remain committed to building on that momentum through strategies that center prevention, intervention, and strong partnerships with residents.”

“Oakland’s progress shows what is possible when cities invest in focused deterrence and wraparound supports that reach people most at risk,” said Joshi. “Our work is grounded in building trust, responding quickly to emerging conflicts, and connecting individuals to services that interrupt cycles of violence. This convening was an opportunity to strengthen that work through shared learning with peers who are advancing similar strategies nationwide.”

Said Johnson, “Effective public safety requires a balanced approach that combines accountability with deep collaboration across agencies and communities.”

“We are seeing meaningful reductions in violent crime because of strong partnerships between law enforcement, DVP, Ceasefire, and community organizations,” said Johnson. “Engaging with peer cities allows us to refine and improve the strategies that are making Oakland safer.”

Continue Reading

Alameda County

Mayor Barbara Lee Declares ‘Delroy Lindo Day,’ Presents Acclaimed Actor with Key to the City

Oakland Mayor Barbara Lee honored acclaimed actor Delroy Lindo with the Key to the City and declared “Delroy Lindo Day” to celebrate his contributions to film, television, and theater.

Published

on

Oakland Mayor Barbara Lee presents Oakland actor Delroy Lindo the key to the cCity Council chambers of Oakland City Hall in downtown Oakland. Photo by Carla Thomas. 
Oakland Mayor Barbara Lee presents Oakland actor Delroy Lindo the key to the cCity Council chambers of Oakland City Hall in downtown Oakland. Photo by Carla Thomas. 

By Carla Thomas

Oakland honored one of its most distinguished residents on May 6 as Mayor Barbara Lee presented acclaimed actor Delroy Lindo with the Key to the City and an official proclamation declaring “Delroy Lindo Day.”

The event, titled “Rooted in Legacy: Honoring Delroy Lindo,” took place at Oakland City Hall and brought together community leaders, artists, and young people for an evening centered on storytelling, cultural pride, and intergenerational connection.

Lindo, a critically acclaimed artist who lives in Oakland, was recognized for his extensive contributions to film, television, and theater, as well as his impact on the global African diaspora. Most recently the Oscar-nominated artist was recognized for his phenomenal role as a bluesman in Ryan Coogler’s “Sinners,” a winner both critically and at the box office.

His celebrated body of work included roles in “Unprisoned,” “Malcolm X”, “Clockers,” “Get Shorty,” and ”Da 5 Bloods,” among others.

“He’s brought depth, inspiration, and authenticity to the screen,” said Lee.

The program highlighted both Lindo’s artistic legacy and his influence as a mentor. A centerpiece of the evening was an intimate fireside conversation between MLee and Lindo.

“I am a living, breathing example of somebody who has achieved the American Dream,” said Lindo. “The other side of that is I walk through the world as a Black man of African descent.”

At 5 years of age, Lindo played King Balthazar in a Nativity play. And years later on Easter of 1973 in New York the Negro Ensemble Company’s play, “The River Niger” left a great impact on him.

“Seeing that production and so many Blacks in the audience, gave me an understanding that maybe I could have a career as an actor,” said Lindo.

Students from the Oakland School for the Arts delivered powerful monologues, adding a dynamic and emotional layer to the program. The students’ instructor, Tavia Percia, chairman of the school’s theatre department, watched the performance proudly. Their performances emphasized the importance of arts education and demonstrated the next generation of talent inspired by figures like Lindo.

Five young men from All Tied Up Academy had the honor of presenting the “Rooted in Legacy” plaque to Lindo with Lee.

The evening also featured a cinematic showcase of Lindo’s work, offering a retrospective glimpse into his decades-long career.

The Golden State Warriors presented Lindo with a custom jersey, symbolizing the city’s appreciation for his contributions both on and off the screen.

The highlight of the evening came as  Lee formally presented Lindo with the Key to the City and read the proclamation establishing “Delroy Lindo Day.” The recognition marked not only his artistic achievements but also his enduring connection to Oakland and his commitment to community engagement.

Celebrities, including filmmaker Ryan Coogler, congratulated Lindo via a video presentation. Lindo did not hold back the tears of gratitude. “I carry Oakland with me wherever I go,” said. Lindo, who is Jamaican via the UK, said he chose the Bay Area to call home with his wife and raise his son.

When young men who grew up with his son entered the council chambers, Lindo welcomed them to the stage for a hug and acknowledgement. “These young men are all honorable. I’ve watched them grow up, and they are the future,” he said. “These are three people that give me hope for this country.”

Addressing the audience, Lindo said, “You are part of the infrastructure of my life. My life would not be as it is without you. You give me more than I give you. Wherever I go, I bring Oakland with me.”

advised everyone to push past negativity of the world.

“Hold onto your dreams, particularly now in this country being fed the constant narrative that ‘we are less than,’ because we know we are more than. And kudos to Mayor Lee at the forefront for decades repping us for Oakland and America.”

“Everyone, hold fast to your purpose and charge as a human being and to the young; go for yours!”

Lindo thanked his many fans, friends, and family in the audience. Attendees included broadcaster Dave Clark, attorney John Burris, former Alameda County Supervisor Keith Carson, Dr. Albert Brooks who delivered his son, and First African Methodist Episcopal Church  Rev. Rodney Smith. Screenwriter David Webb Peoples, who gave him his first film role in Australia, “The Blood of Heroes, was also in attendance.

Continue Reading

Activism

‘Hire Oakland’ Job Fair Draws 2,000, Connecting Residents to Immediate Job Opportunities

Oakland’s Hire Oakland job fair, hosted by Mayor Barbara Lee’s office, connected over 2,000 job seekers with employers, highlighting a strong demand for quality jobs and career pathways in the city.

Published

on

Left to right: Yawo Tekpa, OPIC Manager, One Stop Operator; Sofia Navarro, Deputy City Administrator; and Ray Lankford, CEO of the Oakland Private Industry Council. Photo by Jonathan Fitness Jones.
Left to right: Yawo Tekpa, OPIC Manager, One Stop Operator; Sofia Navarro, Deputy City Administrator; and Ray Lankford, CEO of the Oakland Private Industry Council. Photo by Jonathan Fitness Jones.

By Post Staff

The Office of Mayor Barbara Lee, in partnership with the City of Oakland and regional employers, hosted a successful Hire Oakland job fair this week at Frank H. Ogawa Plaza, bringing together job seekers and employers for a day focused on opportunity, connection, and economic mobility.

With more than 2,000 RSVPs, the event on Wednesday reflected strong demand across Oakland for access to quality jobs and career pathways. Attendees participated in on-site recruitment, application support, and hands-on workshops designed to help job seekers navigate hiring processes and prepare for interviews.

Over the course of the day, employers and community partners engaged directly with residents in a welcoming, high-energy environment centered on opportunity and hope. Participating employers included EBMUD, Samuel Merritt University, the City of Oakland, BART, PG&E, AC Transit, East Bay Regional Parks District, Southwest Airlines, FedEx, and many others offering immediate openings and career pathways across sectors.

Workforce development partners Oakland Private Industry Council (OPIC) and Lao Family Community Development provided connections to résumé support, interview coaching, and individualized job search assistance throughout the event.

The strong turnout underscores a clear reality: Oakland residents are eager for pathways into meaningful work, and sustained investment in youth and workforce programs is essential.

That is why Mayor Lee has prioritized relaunching the Oakland Police Cadet Program and the Mayor’s Youth Employment and Education Program (MYEEP)—ensuring young people have early access to paid work experience, mentorship, and long-term career pathways, according to a City press statement.

“The turnout shows what we already know—Oaklanders are ready to work, ready to grow, and ready to build their futures here at home,” said Lee. “When we connect people directly to employers and invest in young people early, we are not just filling jobs—we are changing lives and strengthening our city’s future.”

The Hire Oakland job fair is part of the City’s broader effort to strengthen workforce pipelines, expand access to good-paying jobs, and ensure Oakland residents are first in line for local opportunity.

About Hire OaklandHire Oakland is a citywide workforce initiative led by the Office of Mayor Barbara Lee in partnership with City departments, workforce development organizations, and regional employers. The program connects Oakland job seekers to real-time hiring opportunities, training resources, and career pathways.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Oakland was one of four cities participating in a public safety convening.  Courtesy image.
Activism1 minute ago

Mayor Barbara Lee Joins National Public Safety Leaders to Advance Proven Violence Reduction Strategies

Oakland Mayor Barbara Lee presents Oakland actor Delroy Lindo the key to the cCity Council chambers of Oakland City Hall in downtown Oakland. Photo by Carla Thomas. 
Alameda County59 minutes ago

Mayor Barbara Lee Declares ‘Delroy Lindo Day,’ Presents Acclaimed Actor with Key to the City

Left to right: Yawo Tekpa, OPIC Manager, One Stop Operator; Sofia Navarro, Deputy City Administrator; and Ray Lankford, CEO of the Oakland Private Industry Council. Photo by Jonathan Fitness Jones.
Activism2 hours ago

‘Hire Oakland’ Job Fair Draws 2,000, Connecting Residents to Immediate Job Opportunities

Cassandra Lopez, known as “Mama C,” is surrounded by family, friends, and neighbors at Oakland’s annual Mother of Year celebration at the Morcom Rose Garden, Saturday, May 9. Photo by Mateenah Floyd-Okanlawon.
Activism2 hours ago

Cassie ‘Mama C’ Lopez Honored as Oakland’s Mother of the Year

Activism3 hours ago

Oakland Post: Week of May 13 – 19, 2026

The largest housing complex in Marin County, Golden Gate Village residents are for predominantly Black and low-income. Courtesy image.
Activism5 days ago

Marin City Public Housing Residents Demand a Voice in County’s Renovation Plans

Activism5 days ago

Oakland Post: Week of May 6 – 12, 2026

#NNPA BlackPress2 weeks ago

2026 Lucid Air Grand Touring Review — Is This $136K EV Sedan Worth It?

#NNPA BlackPress2 weeks ago

Snoop Dogg Celebrates 10 Til’ Midnight at the Compound

#NNPA BlackPress2 weeks ago

OP-ED: Small Businesses Need Minnesota to Act on Pass-Through Tax Policy

#NNPA BlackPress2 weeks ago

Naila Jackson Helps Greater-Birmingham Entrepreneurs Navigate Business Resources

#NNPA BlackPress2 weeks ago

LA28 Olympic Tickets: Register by July

#NNPA BlackPress2 weeks ago

Huffman High School’s Carlos Smith Jr. Wins Esports State Championship for Madden ’26

#NNPA BlackPress2 weeks ago

Commanders Kick Off 2026 NFL Draft Selecting Ohio State Linebacker Sonny Styles with No. 7 Overall Pick

#NNPA BlackPress2 weeks ago

Baltimore Residents Press for New Investments at Taxpayers’ Night on FY2027 Budget

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.