{"id":336595,"date":"2026-05-28T22:38:12","date_gmt":"2026-05-28T22:38:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/336595\/"},"modified":"2026-05-28T22:38:12","modified_gmt":"2026-05-28T22:38:12","slug":"ovg-reportedly-in-talks-to-buy-oakland-arena","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/336595\/","title":{"rendered":"OVG reportedly in talks to buy Oakland Arena"},"content":{"rendered":"<p>Oak View Group is in talks to buy the Oakland Arena as part of the pending sale of the wider Oakland Coliseum complex, according to reports.<\/p>\n<p>An unnamed potential buyer for the 19,200-capacity venue was listed in a term sheet outlining an agreement among Alameda County and the African American Sports and Entertainment Group (AASEG), which is acquiring the Coliseum site, regarding the county\u2019s 50% share of the Coliseum complex.<\/p>\n<p>A spokesperson for the group has said that it is involved with the deal, as reported by the\u00a0<a href=\"https:\/\/www.sfchronicle.com\/eastbay\/article\/private-equity-buyer-oakland-arena-22274221.php\" target=\"_blank\" rel=\"noopener nofollow\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.sfchronicle.com\/eastbay\/article\/private-equity-buyer-oakland-arena-22274221.php&amp;source=gmail&amp;ust=1780068947336000&amp;usg=AOvVaw01nSZN265KXy9dBkVMTgc4\">San Francisco Chronicle<\/a>.<\/p>\n<p>The term sheet stated that an \u201carena buyer\u201d would pay at least $100m for the venue whose ownership is currently split 50-50 by Oakland and Alameda County.<\/p>\n<p>Under the terms released Wednesday, the county would buy back its half of the complex from Coliseum Way Partners, and in turn sell it to AASEG.<\/p>\n<p>The sale of the arena and complex as a whole has taken two years to date.<\/p>\n<p>In\u00a0<a href=\"https:\/\/www.thestadiumbusiness.com\/2024\/10\/08\/deal-signed-to-speed-up-oakland-coliseum-development\/\" target=\"_blank\" rel=\"noopener nofollow\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.thestadiumbusiness.com\/2024\/10\/08\/deal-signed-to-speed-up-oakland-coliseum-development\/&amp;source=gmail&amp;ust=1780068947336000&amp;usg=AOvVaw1APpbMWTJtVPDJqnjZOkkU\">2024<\/a>, AASEG reached an agreement with Oakland to buy its half of the complex, and in July reached an agreement to purchase Alameda County\u2019s half.<\/p>\n<p>However, before the county can complete, that sale must go back on a deal struck in 2019 to sell its half to an affiliate of the Oakland A\u2019s baseball team, Coliseum Way Partners.<\/p>\n<p>To remove Coliseum Way from the deal, the county is set to reimburse it with $85m (\u00a363m\/\u20ac73m) it holds in escrow, plus an additional $30m.<\/p>\n<p>AASEG would then enter into a payment plan with the county for its share, paying it $115m for the Coliseum complex over multiple years.<\/p>\n<p>Oakland Arena was formerly home to the Golden State Warriors basketball team until 2019 when the franchise moved to the Chase Center.<\/p>\n<p>Since then, it has become a popular concert venue with international artists regularly performing there including Sir Paul McCartney and Ariana Grande.<\/p>\n","protected":false},"excerpt":{"rendered":"Oak View Group is in talks to buy the Oakland Arena as part of the pending sale of&hellip;\n","protected":false},"author":2,"featured_media":336596,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[138987,143,72842,145,144,138988],"class_list":["post-336595","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oakland","tag-oak-view-group","tag-oakland","tag-oakland-arena","tag-oakland-headlines","tag-oakland-news","tag-ovg"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/336595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=336595"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/336595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/336596"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=336595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=336595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=336595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}