Sale agreement OK’d by City Council may yield millions of dollars for immediate use plus 6% of future ticket sales

The Oakland City Council has approved a restructured $125 million agreement to sell the city’s remaining 50% stake in the Oakland-Alameda County Coliseum complex, marking a major step forward in long-term redevelopment plans for the historic site.

The deal transfers ownership to the African American Sports and Entertainment Group (AASEG) and its affiliate, Oakland Acquisition Company (OAC), and establishes a new strategic partnership with entertainment executive Irving Azoff’s Oak View Group (OVG). City officials described the agreement as a forward-looking move that balances immediate financial relief with long-term economic opportunity. 

Azoff, co-founder of OVG and a legendary figure in the global music and entertainment industries – joined Council President Kevin Jenkins, Councilmember Janani Ramachandran and Mayor Barbara Lee to announce City Council’s vote this week on the city’s agreement to sell the Oakland Coliseum.

The resolution, which passed 6-1 at the Monday council meeting, authorized the sale of Oakland’s 50% stake in the complex for a lump sum of $110 million plus 6% of all future annual gross ticket sales from events held at the redeveloped complex. Councilmember Noel Gallo cast the lone dissenting vote, citing concerns about his clarity on the position of Alameda County.

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The city will receive an additional $15 million ‘payment bonus’ as OAC obtains building permits for new construction, marking a major step forward in long-term redevelopment plans for the historic site.

The provision is designed to incentivize timely progress while aligning the city’s financial interests with project advancement.

Azoff is looking forward to bringing more music to Oakland. “Oakland is one of America’s great music cities – I spent some very special times earlier in my career working with Bill Graham on Day on the Green, and I have many fond memories of those days,” said Azoff. “We are honored to have the opportunity to become stewards of this iconic arena and build upon its
remarkable legacy. I look forward to once again bringing the very best artists
and events to Oakland and ensuring that the venue remains a source of pride for
the community for generations to come.”

“By approving this deal, we will ensure that the Coliseum complex is in the hands of dedicated professionals who will be committed to transforming this space into a world-class entertainment destination,” said Jenkins. “This will mean hundreds of new shows and events in Oakland annually, which will bring significant revenue into the city.”

Councilmember Carroll Fife (D-3) expressed appreciation for AASEG’s role in advancing a plan with community benefits. “With such a valuable asset underutilized for years, I’m glad to see the Coliseum positioned to serve an underserved and underdeveloped part of the city,” Fife said.

“This deal paves the pathway for a powerful economic revitalization in Oakland,” added Ramachandran. “I am excited for the new terms of the deal and additional stakeholders involved – including entertainment legend Irving Azoff. Not only does finalizing this deal save Oakland money and provide a significant one-time cash infusion but will also create a sustainable revenue stream that will help fund City services and uplift our economy.”

“My bottom line is always what’s best for Oaklanders and the City’s ability to serve them well — and this proposal is a step forward,” said Lee. “This deal will pave the way towards creating jobs and economic opportunities, specifically for east and deep east Oaklanders. Thank you to the city negotiating team for their hard work to bring this proposal forward.”

 AASEG has emphasized its commitment to community-centered development, with plans that include entertainment venues, housing, and commercial space to revitalize East Oakland. The involvement of OVG, known for its work on major sports and entertainment projects nationwide, adds industry expertise and credibility to the effort.

AASEG President Ray Bobbitt called the agreement “a great win for East Oakland” that will benefit the entire city.

The restructured deal could also release the city from its long-standing financial obligations tied to the Coliseum by January 2027. Oakland has historically subsidized the complex, which has operated at a loss of approximately $6 million annually.

The deal includes:

• Initial Cash Sale (Arena Parcel): The city will sell the Arena parcel to OAC, receiving $50 million by early 2027.
• Subsequent Sale (Stadium Parcel): The Stadium parcel will be sold for $60 million, which includes a credit for the $5 million deposit already held by the city.
• Ongoing Revenue Stream: The city will receive 6% of annual gross ticket sales from all events at both the Arena and Stadium, a new ongoing income stream to Oakland’s General Purpose Fund.
• Financial Terms: Payments will be made to the city on a prescribed schedule without lending any funds to OAC, and the city will be immediately relieved of significant financial liabilities associated with ownership and operations.

Additional information on the project is available at www.oaklandca.gov/Government/Departments/City-Administrator/Oakland-Coliseum-Redevelopment-Project?

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Eric Murphy’s latest exhibition, “Oakland City of Stars: From the Archives,” on view through Aug. 31, offers more than a visual tribute to Oakland; it presents history and a global connection rooted in the city’s cultural legacy.

Curated by Veda Silva at the African American Museum and Library at Oakland (AAMLO), the mixed-media solo show builds on Murphy’s evolving “Oakland All-Stars” series, highlighting figures rooted in community history.

Murphy’s artistic journey is grounded in a lifelong passion for storytelling through visuals. Beginning as a child sketching celebrities, he later expanded into collage, blending illustration with found imagery and photography.

His formal training at Laney College sharpened his photography skills, while his early career as a fashion photographer exposed him to broader creative networks. At the same time, his decade-long work with Pro Arts Gallery in Oakland expanded his artistic journey.

These experiences converge in “City of Stars,” where Murphy combines photography, digital collage, and graphic design into distinctive portraits. Each subject is embedded within a stylized map of Oakland, marked by district lines, and layered with visual references tied to their personal and cultural narratives.

Presented in a ‘playing card’ format, the works replace traditional suits with the City of Oakland logo, while multilingual elements and hand-painted details deepen the storytelling. The result is a series that feels both archival and contemporary, an artistic documentation of Oakland’s influence across generations.

The exhibit’s opening reception was also Murphy’s birthday celebration. “I’m celebrating my birthday, Oakland history, cultural ties, and art.”

About 50 guests attended the exhibit, including Joyce Gordon of Joyce Gordon Gallery, entertainer Zina Escovedo, and activists Alan Banks and Inez Banks. “We loaned one of our pieces to the exhibit,” said Alan Banks proudly.

Murphy credits much of his inspiration to his deep interest in Oakland history and its global intersections. Murphy also created a line of Oakland International language shirts. The concept originated in 2012 during a cultural exchange exhibition he managed between Oakland and its sister city, Fukuoka, Japan, celebrating their 50th anniversary.

Working with artists such as Emmy Award-winner James Gayles and photographer Hiroko To, Murphy began exploring language as a bridge between cultures. After studying Japanese at Laney College, he became fascinated with how “Oakland” could be expressed across languages.

That curiosity evolved into a design series beginning in 2019 with “Oakland” translated into Japanese as “Okurando.” From there, Murphy collaborated with community members and translators to create versions in multiple languages. By incorporating archival materials, cultural symbols, and historical references, Murphy transformed each shirt into a narrative artifact rather than a simple translation.

“Each design allowed me to show how rich our history is and how connected Oakland is to the world,” said Murphy.

This same philosophy drives the “Oakland All-Stars” series. Inspired by a moment of pride watching actor Shemar Moore acknowledge his Oakland roots on national television, Murphy began researching other successful people connected to the city. The series now includes former U.S. Vice President Kamala Harris, actress Zendaya, and the late comedian Paul Mooney, among others linked to Oakland.

“I am proud to feature Oakland in my artwork,” said Murphy. “Oakland is a special place, and art is a great way of showing the world what we are about.”

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