Big news! Oakland set to SELL their half of Coliseum
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- I'm hearing the City of Oakland has agreed to sell their half of the Coliseum property to AASEG for $105M (potentially more with development deal). This will be a huge boost to Oakland’s future budget, which helps keep fire stations open, police funded and City jobs intact.
There will be a 3pm presser later today with Oakland Mayor Sheng Thao and AASEG.
The A’s just completed their final payment for the County’s half of the Coliseum site last week, and will continue to be motivated to sell their half to AASEG, too. AASEG getting the City’s half, should expedite that.
My sources say A’s/AASEG also have a term sheet and purchase price negotiated for the other half.
The A’s/County sale is being challenged in the courts under the Land Surplus Act and furthermore, if the A’s don’t “play ball” they could face losing the land via eminent domain.
It's worth noting, the A’s made a deal to pay the County $85M for their half of the Coliseum property in 2019. They’ll likely be selling it for around $125M, which is a massive profit.
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Fisher has made money in Oakland every year but the Covid year, increased the value of the team 8 fold, gets free money from Vegas, free rent in Sacramento, revenue sharing, TV money, etc. One lucky SOB.
Billion bros seldom lose
@@fantasyEXX stadium is already obsolete apparently. All that money and he fails at everything.
@@fantasyEXX it was once considered one of the better stadiums but has fallen into disrepair. Meanwhile, Texas and Atlanta get another new park after 20 years. The rabid A's, Raiders and Dubs fans never got a new venue in Oakland.
In terms of the A's, unfortunately I feel like this gets them $125M closer to a new Vegas stadium
When added to the $380 million from the State of Nevada, they're still $1 billion short. And Bally's is saddled with a ton of debt. Does anyone know of any Vegas investors looking to fund the stadium?
@@ooogyman The MLB billionaire Bros will bail this turkey out just like he's been gaming the system by getting his MLB "welfare" checks and not reinvesting back into the team.
MLB is all in on Las Vegas (quasi expansion experience) so even if they need to kick some in, they will.
Wouldn't have done it for Oakland mind you but to leave Oakland they will.
Makes me furious and makes me sick.
I will and do hate MLB for consenting and supporting this whole debacle.
This isn't a good thing....
🎯
I said the City should have used eminent domain years ago. Just stop messing with John Fisher because he’s going to sit on his half forever.
Yeah ok you know more than the Oakland city(which is true shows how incompetent the city is)
Im happy for Oakland. They need to focus on making the city stronger and not keeping the A's.
What do you say to the East Oakland community that makes money from events and concerts at the Coliseum site ????
There will be another expansion team but not in Oakland.
Are you okay
More than anything, it gets Oakland City Hall, and the incompetent politicians OUT of the sports business. For decades they treated the coliseum land like a hated step child. I'm not yet putting my stamp of approval for AASEG, they're gonna have to prove it. BUT, I'll take my betting chances with the private sector over the public sector(especially when it comes to land ownership)any day of the week.
I haven't seen any quotes from the press conference yet, but I am very skeptical of this group. It already took them a very long time to just buy the City's half. Also I think it was a big blow when Lacob and the Warriors got a WNBA team. It was my understanding that was supposed to be a big part of the "sports" in their acronym. I'm not sure what sports are left. The roots? I think it was already going to be challenging to build an entertainment district around a WNBA team, much less building one around an even smaller soccer team. No hate to either team, they are great, just not sure they are the kind of products that can drive people to surrounding businesses for the full game day experience. Maybe they are hoping it works the other way around, come for the food and shopping and stay for the sports / entertainment.
105 million will keep Oakland going for about 2 weeks. And then what?
It might have been good news if we all didn't already know the city of Oakland management will squander and mismanage the funds received from AASC or whoever.
It going to do none of those things. The City still has to retire the debt for Mount Davis which they are still paying off. The sale will let them retire most of the debt that is still owned. It will do nothing for city services. If you report on something at least get your facts right.
Why can't Oakland have a WNBA team?? Coliseum Arena is a pretty damn fine arena.
This is a disaster. The Oakland Coliseum has hosted 6 World Series.
So why is Las Vegas giving Fisher one penny when Fisher stands to make millions on the land deal ..Another reason why Las Vegas doesn’t want Fisher anywhere near Las Vegas .
But they do want the A’s and MLB baseball.
@@805fillmore No they don’t . We want a Vegas born team not another Oakland reject and con artist owner .. If the funding was put on a ballot like it should be you would know it also .
@@805fillmore wrong
@@BoulderCityBlues Aw poor Vegas residents are going to have to have a baseball team. I feel bad for you guys!
@@805fillmore No we are going to have shit baseball team and a shittier owner but at least we aren’t Oakland . So there’s that
Who's funding the sale? Where are the renderings for their development of the area?
Smfh
Why didn't Alameda County just sell its half to the City of Oakland?? Now Fisher gets to basically hold his half ransom so that the City and AASEG can't proceed with redeveloping the site unless they fund his Vegas debacle.
I used to work for the leader of AASEG. They aren't not gonna kowtow to Fisher. That's not enough money to get that started.
@@brentduanefosterZennie62 was right again huh?😅
lol he is going to sell it and make money that he needs he will make a profit
@@sirchi8731what are you talking about? Its been this way for a long time and known. You would think that clown has a crystal ball lol
@@stefanbrown5872 weren't u the guy that got clowned on his broadcast???? 😆
Dude all of you sound really foolish everytime you talk about keeping a major league franchise in the city or getting an expansion team. Are you kidding? The City of Oakland just lost 3 major league franchises in the past 5 years. Doesn't matter where the A's end up it's not in Oakland.
Only realistic hope, longer run, is Sacramento!
Sounds like a super big mess to me!!!
Is the Coliseum going to be torn down eventually as part of this development?
It won't live on in it's current form. Casey says they want to turn it into something similar to LA Live, so I wonder if they would go ahead with turning it into a park or outdoor live event space? Would be nice to see it become something better than whatever the hell is going on at Candlestick
Hoping they still can be an expansion team where the city owns it like the Packers.
Mlb no longer considers Oakland a big league town. This is both a political and business move. There moving on
However, I do believe MKB would still want two string teams in N. California.
@@larrystaley21 ?
What I would love to see happen is the As keep their half. Then AASEG literally cut the coliseum in half ruin the value then they sell for pennies.
Your not to smart are You?
@@user-ih7hq3es1s I can be. I would just think that is funny.
so not HT or Coliseum?... makes me sad Oakland is further away from MLB with every step.... I really hope the Ballers fill the void.
The Ballers, unfortunately, won’t come close. Independent baseball leagues are nothing close to college or even minor league teams. I’m just being realistic
@@P31B while u have a point, a lot of minor league programs go above and beyond their peers due to local support. Look at teams like Durham Bulls, while it’s not MLB equivalent it’s definitely it’s own product that is a lot of fun.
Are you really going to miss MLB? Look at what the relationship with MLB did to Oakland. At best: MLB sure didn’t help. At worst: MLB side hustled Oakland to help the A’s move to Las Vegas.
You couldn’t blame Oakland for never wanting anything to do with MLB, NBA, or NFL ever again.
@@cwilsonytother way around
Can’t wait to watch Vegas drop the ball with the A’s like they did the raiders haha. Tisk tisk woulda thought yall learned by now…. Atleast show up to what you got before asking for more.
oakland should sell to A’s half
Maybe tell your followers in how the recall of the current mayor is going, rather than begging of the Oakland Athletics to somehow remain in Oakland. Wouldn't that be more helpful?
When it comes to keeping the As in town, how would that be helpful.
@@Emancipatriot too late for Brokeland/Chokeland/Wokeland (whatever you wanna call it) to save them, while the city's going through a lot of crisis, in terms of rampant crime, homelessness, poverty, drug abuse, and businesses leaving. 😉
@@DieYuppiieSkum you don't live there so what do you care . Move on
@@frv1995 why do you care to reply to this thread if it hurts your feelings? Go put an-hero. 🙄🤦🏾♂️
@@DieYuppiieSkumlol good job keyboard warrior. You act tough online - come visit us at an A’s game ;) we know you won’t
Does not sound like anything that is interesting as far as sports go. I hope everything things works out well for everyone
Casey Pratt has announced that the Oakland Coliseum is likely to be torn down. The Oakland Coliseum has been the home ballpark of 4 World Series teams and also NFL champions. Yeah so this is def sports news 🤯
Are we happy that Tiger Stadium doesn't exist anymore ????? Are we all just perfectly okay with having never been to Chicago's Comiskey Park ?? U R absolutely wrong to B excited about this news 👈 why are we celebrating the destruction of one of America's most historic venues. We literally have enough new stadiums and ballparks. THEY HAVE MOVED THE WRIGLEY BULLPEN INDOORS. Let's relax with all this replace and also stop with all these tear downs of baseball stadiums- I thought we all liked baseball. In MLB there have been 20 new stadiums over the last 40 years. This is dumb.
Las Vegas 2028
City of Oakland and Alameda County is trash!!!!!
So why didn't the city sale their half to the A's. If they would have do that then made the A's would have stayed in Oakland. Again the city hosing the A's. Fisher is a problem but the city is as well. Oakland needs to face the facts, they well never receive an MLB team again based on the city selling their half of the Colsuim.
Oakland/East Bay can get sports back but not under this feminist leadership. It's gonna take a city council to be more business friendly and offer the tax breaks needed for sports to come back
The A's were never going to build at the Coliseum site. They don't believe they can compete with Oracle Park unless they also have a waterfront ballpark. They also believe they need all of the ancillary development to generate more revenue so they can run a baseball team (same model the Braves use). Although of course they don't seem to care about either of those points now that they are moving to Las Vegas. I guess they believe the different economic and visitor conditions lends itself to a different ballpark and economic model.
@@WaffleLover-my1hi dude. Not everyone can be the Chicago Cubs Wrigley Field🏟..some places u go watch the baseball game and go home. Both Philadelphia and Kansas City play in Coliseum site ballparks like the Oakland A's. So it could have worked
@@sirchi8731 The Royals are not a very good example. Besides consistently low payrolls and rarely making the playoffs, they are trying to build a new downtown ballpark in the same model as the Braves that I mentioned above. In Philly I know they have all of their stadiums and arenas next to each and with a huge parking lot. I believe the 76ers are trying to get away from that system and build a new arena in the city with surrounding development.