Oakland Coliseum: A new deal on the table?
Concerns over Oakland Coliseum sale
The current signed and sealed Coliseum sale deal calls for $63 million to be paid to the city in four installments by the end of next June. But now, Oakland City Councilwoman Janani Ramachandran is expressing deep concerns that the buyer, the African-American Sports and Entertainment group, has missed or delayed a $10 million payment.
OAKLAND, Calif. - In selling the Oakland Coliseum site, the City of Oakland is trying to avoid major spending cuts that could deeply reduce police and fire services to a city in need.
So, is it a deal or not a deal? That is the question.
The current signed and sealed Coliseum sale deal calls for $63 million to be paid to the city in four installments by the end of next June.
But now, Oakland City Councilwoman Janani Ramachandran is expressing deep concerns that the buyer, the African-American Sports and Entertainment group, has missed or delayed a $10 million payment.
"We're met with radio silence to not understand what gonna happen," said Ramachandran.
Though the mayor insists that the deal is on track, it appears that there's a new deal.
"That would allow them to get $10 million on Monday or shortly thereafter…Then… probably May 30, they would receive $95 million," said Ray Bobbit of the African-American Sports & Entertainment Group.
So, is this essentially the new deal?
"Yes. That's right. I can say that with certainty," said Bobbit.
Several city council members feel the Mayor and City Administrator are ignoring them.
"None of that is binding until it comes back to council for approval," said Ramachandran. "Are there things, precautionary things we can start doing to do this? Say OK, we might have to make some cuts…no one wanted to have that conversation."
The Oakland Police Officers Association is skeptical.
"The police are very worried that no one has seen the deal, no one has seen the money and no one trusts the players involved: the Mayor's office or the developer. We're concerned that this is gonna lead to further cuts in public safety because there may not be a real deal," said the association's spokesman Sam Singer.
"There are several hundred 911 calls that go unanswered every weekend. That means that people with emergencies aren't getting taken care of."
Everything appears to be on hold until Monday, when a requested emergency council meeting may or may not happen.