I’m reproducing Seneca Scott’s recent press release in its entirety because it tells a story I haven’t seen anywhere else in the media. Many of us have long suspected that the deal to sell the Oakland Coliseum stank from the start; for years, AASEG’s reported failures to meet its payment obligations only added to this impression. Now, it appears things have completely imploded, in a way that is disturbing but hardly surprising, given the incompetence (and, possibly, the lawbreaking) of Oakland officials, especially Sheng Thao, Rebecca Kaplan and Nikki Bas.
I don’t know if Scott’s reporting is accurate. Nor do I mean this to be any sort of endorsement of his mayoral ambitions. Seneca Scott will never be mayor of Oakland, nor should he be. But if his reporting on the Coliseum is accurate, we should heed it.
Here is the press release:
Alameda County Moves to Quietly Rewrite Coliseum Deal Amid AASEG Payment failures
Oakland, CA — A whistleblower within Alameda County has informed Gotham Oakland that the County is preparing to vote on buying back its portion of the Oakland Coliseum from the A's for $115 million—after selling it for $85 million just one year ago. The proposed vote would reverse the original transaction at a $30 million loss to taxpayers. County officials appear to be moving to fundamentally alter the original Coliseum deal with African American Sports & Entertainment Group (AASEG), with minimal public notice.
These developments follow nearly two years of missed payments, shifting deadlines, and repeated public assurances from Ray Bobbitt, CEO of AASEG, that the group was fully financed by Loop Capital, and would not require public funds. Evidence now suggests otherwise.
Sources indicate Alameda County officials, including Nikki Fortunato Bas, have sought to use emergency agenda procedures to move these decisions quickly and with limited public input. The first attempt was days before Christmas, but failed. Now, they are planning to discuss it again next week in an emergency session.
Even more concerning, the County is reportedly considering retaining AASEG—despite payment failures—as a broker to sell or lease the land on the public’s behalf.
Separately, the City of Oakland has reportedly entered discussions with PG&E regarding the potential sale of the City’s remaining interest in the Coliseum, allegedly related to concerns around AASEG’s failure to meet its contractual obligations.
What was sold to the public as a transformational, community-centered redevelopment now appears to be a property-flipping arrangement, with private actors positioned to profit while taxpayers absorb the losses. Oakland has already relinquished one of its most valuable public assets without receiving full payment and now risks losing ownership entirely.
This deal was spearheaded by former Mayor Sheng Thao, who was recalled by voters and now faces federal charges related to government corruption, and executed by City Administrator Jestin Johnson, with key leadership from then–Councilmembers including Rebecca Kaplan and Nikki Fortunato Bas. City leaders repeatedly celebrated the sale as a historic win for Oakland, even as AASEG missed payments and the City was forced to adopt austerity measures amid the resulting revenue shortfall.
Gotham Oakland calls on Alameda County voters to demand that the Board of Supervisors reject any buyback at a taxpayer loss, sever ties with AASEG, and initiate an independent investigation into misrepresentations and potential financial misconduct.
Gotham Oakland will continue to report on these developments.
Seneca Scott
Gotham Oakland
626-688-5328
Steve Heimoff