Board Clears Last Hurdle for Coliseum Arena Sale

The Alameda County Board of Supervisors convened a special meeting during its August recess for a single purpose: to remove the final obstacle standing between a long-stalled Coliseum Complex redevelopment and the closing table. The board voted unanimously to amend the sale's term sheet, carving out the arena buyer from environmental liability provisions that had threatened to kill the deal.

• Coliseum term sheet amendment approved 3-0, exempting the arena buyer from environmental indemnity requirements that industry buyers typically refuse to accept

• Labor, business and community leaders rally behind the deal, warning that failure could mean another 20 years before a developer steps forward

• Oakland Acquisition Company targets September 2026 closing, committing to round-the-clock availability to finish the transaction

• Supervisor Miley reflects on 26 years of failed Coliseum deals, expressing cautious optimism that this time will be different

A 16-Year Wait May Finally Be Ending at the Coliseum

The basics: The Alameda County Board of Supervisors approved the First Amendment to the non-binding term sheet governing the sale of the county's half undivided interest in the Oakland-Alameda County Coliseum Complex. The amendment creates a carveout from the environmental release and indemnity provisions specifically for the arena buyer's purchase of the arena parcel from Oakland Acquisition Company. In plain terms: the entity buying the arena will no longer be required to assume full environmental liability for the site — a deal condition that arena buyers across the industry routinely reject.

Why it matters: This was the last negotiating barrier between OAC and its arena buyer. Without it, Board President David Haubert warned, the entire transaction was at risk. "I do believe it is critical to advancing the progress of this transaction. I do believe that without this, the transaction has a chance to fail," said President Haubert. The Coliseum site — roughly 120 acres near Interstate 880, BART and Oakland International Airport — has defied redevelopment for more than 16 years. Every previous developer has walked away.

Where things stand: OAC representative Susan Cronin told the board that the amendment represented a significant concession by the arena buyer, not a giveaway. "Typically, they actually receive indemnity from sellers when they step into this role," Cronin said. "So this is a very big stretch for them and a very big compromise." She confirmed this was the last remaining point in OAC's purchase and sale agreement with the arena buyer.

Ray Bobbitt, also representing OAC, told supervisors the company is targeting a closing by the end of September 2026 — well ahead of the city of Oakland's outside date of Jan. 30, 2027. "We're going to make ourselves available 24 hours a day, seven days a week. This is all we're focused on," Bobbitt said. He added that OAC has already submitted long-form transaction documents to county staff.

GSA Director Kimberly Gasaway confirmed her office is ready to meet that pace, telling the board that staff is committed to moving the real estate transaction forward.

Community Coalition Lines Up Behind the Deal

Public comment was unanimously supportive, with representatives from organized labor, the business community and a major social services organization all urging approval.

Andreas Kluver, executive officer of the Alameda County Building Trades Council and a vice president of the Central Labor Council, told the board he has been involved in Coliseum development efforts for 16 years and has watched every prior developer abandon the site. "We now have a developer who's hung in there through all the challenges and really worked hard to make it work," Kluver said. "They've partnered with labor, they've partnered with the community." He warned that rejecting the amendment could set the project back a generation: "If we don't, folks, we're going to be another 20 years."

Barbara Leslie, CEO of the Oakland Metropolitan Chamber of Commerce, framed the vote as a signal to capital markets. "Major economic development requires certainty," Leslie said. "Certainty gives private investors the confidence to commit capital, create jobs, support local businesses and help drive long-term economic growth." She highlighted the site's strategic location and its potential for housing, employment and commercial development.

Ken Maxey, CEO of the Urban League of the Greater San Francisco Bay Area, spoke about generational impact, expressing hope that young people across the Bay Area would find jobs through the project and that the arena would once again attract top-tier entertainment.

Decades of Institutional Memory

Supervisor Nate Miley delivered the most extended remarks of the evening, drawing on what he described as a unique vantage point. "After serving 10 years on the city council, 26 years as a county supervisor, still being the only elected official that's been in those rooms, dealing with our sports teams, dealing with billionaire owners, dealing with failed opportunities, dealing with failed leadership," Supervisor Miley said, framing the amendment as a pivotal but uncertain step. He compared the move to chess strategy and football, acknowledging both the risk and the necessity. Still, he allowed himself a flash of competitive optimism: "I'd love to see the arena be everything it can be and Chase Center have to suffer the consequences."

Supervisor Nikki Fortunato Bas seconded the motion and noted her prior support for the project as a former Oakland City Council member. "East Oakland, all of Oakland, all of Alameda County, needs the type of vision, economic opportunity and commitment that this project has the potential to bring," Supervisor Fortunato Bas said.

Decisions: The motion passed 3-0 on a roll call vote (Supervisor Miley, aye; Supervisor Fortunato Bas, aye; President Haubert, aye). Supervisor Elisa Marquez and Vice Chair Lena Tam were excused.

President Haubert closed with an unequivocal declaration of confidence. "I'm eternally optimistic. I have no trepidation. I have no fear about the future. I see nothing but great things happening," he said, before challenging county staff to match OAC's urgency: "I challenge our staff to keep pace with that. They will. We will get this done."

What's next: OAC is targeting a closing by the end of September 2026. The city of Oakland's outside date is Jan. 30, 2027. With the term sheet amendment now adopted, OAC and county staff will move into due diligence, site access arrangements and preparation of final transaction documents.

• Closed session: The board held a closed session covering labor negotiations, existing and potential litigation, and real property negotiations related to the Coliseum Complex. County counsel reported no reportable action was taken.