East Bay News

Big money investors may help Oakland keep teams

Tuesday, October 08, 2013

The Oakland A's lost Game 4 ALDS against the Detroit Tigers Tuesday night. And while the team is looking for another playoff win, Oakland Mayor Jean Quan is already feeling like a winner because she may have the money for an ambitious sports and entertainment complex.

Oakland's vision of building a new home for its professional sports teams may not be the pipedream cynics predict. Quan is cheering a well-heeled investment group that wants in on what's called Coliseum City.

"And they're the third largest real estate developers in the world so they have deep pockets. So, we think that this is a very important step," said Quan.

The project calls for a rebuilt coliseum with shops, homes, entertainment and separate facilities for the A's, Raiders and another across Interstate Highway 880 for the Warriors.

Raiders' supporter Dr. Death and other Oakland sports fans were urging a council committee Tuesday afternoon to extend the exclusive negotiating agreement for the city approved development team, and allow them to bring in the new investors, heavy weight Colony Capital and a Dubai financier.

Even though the Warriors plan to leave Oracle Arena for San Francisco and the A's are pushing to move to San Jose, the group of fans and community leaders known as Save Oakland Sports believes the new money men might change some minds.

"Once they, you know, got all the ducks in a row and we're able to start putting, you know, shovels in the ground, I find it very hard for the A's to then say, 'Oh, I don't, we don't want to stay,'" said Chris Dobbins of Save Oakland Sports.

Quan calls the project transformative. A full City Council vote will take place next week.

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Tags:
oakland, oakland coliseum, jean quan, oakland athletics, oakland raiders, golden state warriors, I-880, east bay news, carolyn tyler
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