The Oakland A's have agreed to sell their ownership stake in the Coliseum complex, clearing the way for the redevelopment of a 155-acre site that includes the stadium and the Oakland Arena.
The MLB team is selling its 50% share of the site to the African American Sports & Entertainment Group (AASEG) for $125M, the same group of local developers who last week finalized a $105M deal for the other half of the complex with the city of Oakland, the San Francisco Chronicle reported.
The A's, which are building a new stadium in Las Vegas, bought Alameda County's half of the sports and entertainment complex in 2019 for $85M. The team has been paying off the acquisition in installments, with $45M still owed to the county.
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