Oak View Group Emerges as Potential Buyer for Oakland Arena

Oak View Group (OVG) is in discussions to purchase Oakland Arena as part of the ongoing effort to transfer ownership of the Oakland Coliseum complex in Oakland, California.

The potential deal adds a new layer to the years-long effort to transfer control of the 155-acre East Oakland property.

The possible arena buyer was first referenced in a term sheet released May 27 by Alameda County, outlining an agreement among the County, the African American Sports & Entertainment Group and Coliseum Way Partners regarding the County’s 50% share of the Coliseum complex.

According to the term sheet, an “Arena Buyer” would pay at least $100 million for Oakland Arena, the more active portion of the Coliseum complex, which includes both the stadium and the arena. The property is currently split evenly between the City of Oakland and Alameda County.

The San Francisco Chronicle later reported that Oak View Group is the unnamed potential buyer. A spokesperson for OVG confirmed the company is involved in the deal, while two people familiar with the agreement said the group is in discussions to purchase the arena.

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Since the Golden State Warriors moved to Chase Center in San Francisco in 2019, Oakland Arena has found a strong second life as a concert venue. The 19,200-seat arena has remained a key Bay Area tour stop, with major artists including Ariana Grande and Olivia Rodrigo scheduled for multiple sold-out shows later this year. The venue is currently managed by Legends Global.

Under the proposed Coliseum agreement, Alameda County would first buy back its half of the complex from Coliseum Way Partners, an entity affiliated with the Oakland Athletics, before selling that share to the African American Sports & Entertainment Group. The move would help advance a complicated transaction that has been stalled for several years, though additional hurdles remain.

AASEG, led by Oakland native Ray Bobbitt and financially backed by Loop Capital, has been the public face of the effort to acquire and redevelop the Coliseum complex. The group reached an agreement with Oakland in 2024 to buy the city’s half of the property and later reached a deal to purchase Alameda County’s stake.

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The group has previously discussed plans to bring affordable housing and a hotel to the Coliseum site, though it has not yet provided a firm timeline for that portion of the redevelopment.

Before the County can complete its sale to AASEG, it must unwind a 2019 agreement to sell its half of the complex to Coliseum Way Partners for $85 million. At the time, the A’s were pursuing a new waterfront ballpark at Howard Terminal and viewed the Coliseum site as a potential backup. Those plans later collapsed, and the team moved forward with a new stadium project in Las Vegas.

To release Coliseum Way Partners from the deal, Alameda County would reimburse the group’s $85 million escrow payment, plus an additional $30 million, according to the term sheet. A’s Vice Chairman Sandy Dean said Coliseum Way Partners also invested more than $10 million to support operating losses and property-related expenses.

AASEG would then enter into a payment plan with the County, paying $115 million for its share of the Coliseum complex over multiple years, with 5% interest compounding annually. If Oak View Group or another third party purchases the arena from AASEG, at least half of the proceeds would go toward the principal owed to the County.

For OVG, Oakland Arena could represent a valuable addition to its growing venue portfolio. For Oakland, the deal could help move the Coliseum redevelopment effort into its next phase while keeping one of the city’s most important live entertainment assets active.