Oakland Coliseum Is Sold as Developer Plans $5 Billion Overhaul

An Oakland-based developer has assumed full ownership of the Oakland-Alameda County Coliseum, paving the way for the revitalization of the deteriorating California complex.

The Alameda County Board of Supervisors unanimously approved a $125 million deal to offload a 50% stake in the property to an affiliate of the African American Sports & Entertainment Group on Tuesday, giving the developer complete control of the Coliseum. The group purchased the other 50% stake earlier this year.