OAKLAND (BCN) – The city’s vice mayor said a local group of companies had taken serious steps to buy the city’s 50 percent stake in the Oakland Coliseum complex and bring a WNBA team to the city.
The office of Rebecca Kaplan, Vice Mayor of Oakland, shared a press release on Monday about the efforts of the African American Sports and Entertainment Group.
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Kaplan said the group is in negotiations with the Oakland-Alameda Joint Powers Authority, has made a formal proposal to WNBA officials and presented a term sheet to the city, which the city council’s rules committee recently decided to put on the full council for one Voice.
The group will provide further details of their efforts at a press conference on Friday at 11 a.m. at a location to be determined later.
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“I am delighted that the Oakland Coliseum has such great interest in an important development that will create jobs, income and positive community impact,” she said. “My goal is to drive this process forward before the summer break.”
Kaplan said the group had the support of more than 30 community groups from religious institutions, labor organizations, civic leaders and job development organizations. She didn’t name the groups.
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