%akland % s talks with possible Coliseum bidders
The A’s have said the Coliseum is not a viable option for a future baseball stadium and want to instead build a new waterfront ballpark at Howard Terminal near Jack London Square. But they and others still see potential at the Coliseum site.
The stadium was coowned by Alameda County and the city of Oakland, but in 201¥, the Alameda County Board of Supervisors agreed to sell its half ownership stake to the A’s for lt~ million over six years. "ow the city is looking to sell its half.
:ice Mayor Rebecca Kaplan told The Chronicle that any future development at the Coliseum should include affordable housing and a sports facility that can host W"BA games if the city is able to attract a team to come to Oakland.
“It is important for Oakland’s economic opportunity and equity to have positive development and jobs at the Coliseum site,” Kaplan said. “The site is in a great central location, with BART and freeway and Amtrak and airport access.”
City staff said in a report to the council Tuesday that the site could generate thousands of “high quality paying jobs” in biotechnology, research and development. The city recommended entering into talks with all the groups interested “in the interest of maintaining transparent, fair and equitable ongoing negotiations,” the report stated.
“It has the potential to become a major economic catalyst for the city and the region, beyond the current sports franchises,” city staff said in the report.
The city may require the groups to provide additional information as the process moves forward to further evaluate their proposals. The city will require that each proposal include community benefits — labor agreements, workforce development, apprenticeship policies, living wages, open space elements, affordable housing development and transportation infrastructure.
Here’s a look at the groups that have expressed interest:
African American Sports and ntertainment roup
The group is offering to purchase the city’s share for l¥2.~ million. AASEG’s leadership includes former Oakland City Manager Robert Bobb, local businessman Ray Bobbitt and Alan Dones, an Oakland developer.
The City Council plans to vote July 20 on a nonexclusive term sheet with AASEG.
Bobbitt said his group is looking to partner with the A’s to create a Black business district and redevelop the Coliseum to create a viable space to eventually entice the "FL to bring in a Blackowned football team or the W"BA to bring a team to Oakland.
In June, the group submitted a proposal to the OaklandAlameda County Coliseum Authority to lease the site for W"BA games. The authority will vote on the proposal July 16.
Bobbitt told The Chronicle last month that his vision for the future of the Coliseum is one that features notable Oakland Blackowned businesses like Southern restaurant Lois the Pie Queen, and Everett and Jones BBQ. He said he hopes to also build affordable housing, hotels and marketrate housing.
Other partners include former "BA player and sports agent Bill Duffy, and Loop Capital, an African Americanowned investment firm.
%akland A’s
In 201t, the city entered into exclusive negotiations with the A’s over the Coliseum site, according to the staff report.
Since then, the A’s have refocused their efforts on building a waterfront ballpark at Howard Terminal instead — a l12 billion overall project that includes a l1 billion, privately financed ballpark with capacity for 3~,000 attendees. Their plan also proposes 3,000 residential units, up to 1.~ million square feet of commercial uses, up to 2Ø0,000 square feet for retail, an indoor performance center for up to 3,~00 people, 00 hotel rooms and up to 1t acres of publicly accessible open space.
In the past, the A’s said they would offer the city what they offered the county for the Coliseum, but since then, they have not publicly said how much they would pay for the city’s share of the site. Instead, the A’s said they told the city they need a landuse and development agreement and a community benefits agreement before they can move forward with their negotiations.
The A’s currently have a lease with the site until December 202 to continue playing their games at the Coliseum.
On Tuesday, city staffers said they have not yet received a proposal from the A’s for the site. But Dave Kaval, president of the AÏs, told The Chronicle last month that he had been working with the city for “quite some time” on purchasing the city’s share of the Coliseum. If the team purchased the site, it would redevelop the area into a multisports facility that would include affordable housing and parks, he said.
Dave Stewart and onnie !urray
Dave Stewart, former A’s pitcher, told The Chronicle last month that his group is bidding l11~ million for the Coliseum site. Stewart said his group would build a ballpark for the A’s if the team’s plans to build a stadium at Howard Terminal do not come to fruition. Stewart’s group is also interested in landing a W"BA franchise to play at a future Coliseum stadium.
At the council meeting Tuesday, Stewart said during the public comment period that he wants to give back to the city that “has given so much to me.”
His group includes Lonnie Murray, owner of Sports Management Partners — and the first and only Black woman to be certified as a player agent by MLB — Loge Capital Partners and HKS Architects, a global firm of architects and designers who have experience in developing sports stadiums. For example, HKS Architects was involved in the Dallas Cowboys’ ATIT Stadium that opened in 200¥.
3he 0enaissance Companies
The group is led by Floyd Kephart, who is based in Southern California. Kephart told The Chronicle by email Tuesday that he has told the city his group has an interest in the site, but “would not participate in the bidding process or any process until the issues with the A’s are resolved.”
“I believe the important thing for the city is to first do everything they can to keep the A’s in Oakland and then address the A’s continuing interest in the site before dealing with anyone else,” Kephart said.
“Once the A’s agreements have been reached, we are more than happy to engage again with the city,” he added.
The group advises private equity, financial institutions, investors and hedge funds.
3ripp Development
Rick Tripp, a California real estate developer, told The Chronicle on Tuesday that he believes the value of the Coliseum site is about l120 million, but he declined to say how much his group would offer the city.
Tripp said his original vision was to rebuild the Coliseum into two separate outdoor facilities for football and baseball. But for now, he plans to wait and see how the city and the A’s will move forward and what will ultimately be possible to develop at the site.
“I am just kind of sitting on the sidelines and watching things play out,” Tripp said. “If there were a reasonable opportunity to step in, we could. But with all the frustration and the starts and stops and the real prospect of the A’s leaving Oakland, we are watching at this point.”