Coliseum deal finalized: Oakland sells its share to AASEG
Oakland A's and Raiders one step closer to new stadium
Sale paves the way for construction of new ballpark in Howard Terminal
The Oakland City Council has finalized the sale of its share of the Oakland Coliseum to the Oakland Athletics' ownership group, AASEG. The deal, which was first announced in November 2022, will give the A's full control of the Coliseum site and allow them to begin construction on a new ballpark in the Howard Terminal district.
The sale price for the Coliseum was $575 million, which includes $200 million in infrastructure improvements to the surrounding area. The A's will also be responsible for all costs associated with the construction of the new ballpark, which is estimated to cost around $1 billion.
The new ballpark in Howard Terminal is expected to be completed by 2027 and will have a capacity of 35,000 seats. The ballpark will also feature a number of amenities, including a swimming pool, a movie theater, and a rooftop deck.
The sale of the Coliseum is a major step forward for the A's and the city of Oakland. The new ballpark will be a world-class facility that will help to revitalize the Howard Terminal district and bring new jobs and economic development to the city.
Benefits of the new ballpark
- A new ballpark will provide the A's with a modern facility that is designed to meet the needs of today's fans.
- The new ballpark will be located in a vibrant and growing part of Oakland, which will help to attract new fans to the team.
- The new ballpark will be a catalyst for economic development in the Howard Terminal district, which will create new jobs and opportunities for Oakland residents.
Conclusion
The sale of the Oakland Coliseum to AASEG is a major step forward for the A's and the city of Oakland. The new ballpark in Howard Terminal will be a world-class facility that will help to revitalize the surrounding area and bring new jobs and economic development to the city.
Comments