Alameda County supervisors approve new term sheet for sale of Coliseum property

Alameda County supervisors approved a non-binding term sheet for the sale of the Oakland Coliseum property to the Oakland Acquisition Company (OAC), an affiliate of the African American Sports and Entertainment Group. Key terms include a $115 million buy-sell agreement for half the site, environmental indemnification exemptions, and a June 30 closing deadline, though negotiations over environmental provisions remain ongoing.