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Oakland A’s To Give AASEG Ray Bobbitt Offer To Buy Part Of Oakland Coliseum For $85 Million. What Deal Says.According to Mick Akers of the Las Vegas Review Journal: “As the @Athletics look to extend their lease at the Oakland Coliseum, the team is meeting with a group interested in purchasing its share of the decades old stadium.”The Wednesday meeting between Ray Bobbitt and Levant Ogbulie and the Oakland A’s repped by Owner John Fisher and President Dave Kaval, is reportedly about the A’s selling their share to AASEG AKA AASEG Land. But what it is really about is the Oakland A’s giving up on Oakland.Think about it. The once wanted Coliseum Land is now worth far less: harmed by crime and threatened by sea-level rise, and blemished by inactive government, the Oakland Coliseum property is, for all practical purposes, blighted. The A’s have smartly determined that “there’s no there, there.”The Oakland A’s are also convinced that between AASEG and the City of Oakland, nothing will happen. And the A’s figure that if AASEG is willing to pay $85 million for land in a city we do not believe it, then let them do it.Also, AASEG is the focus of a partners lawsuit filed by Brien Dixon and Karim Muhammed. Ray Bobbitt is alleged to have fraudulently created four new Limited Liability Corporations (LLCs) to replace the original LLC made and with Brien Dixon and Karim Muhammed listed as managers with Ray Bobbitt and Levant Ogbulie. If the court wins, and its a good chance that happens, the ENA will have to be altered to include Brien Dixon and Karim Muhammed, or completely dissolved (as one option of many).If AASEG can’t prove it can create a financeable public-private partnership then the City of Oakland will certainly (and with, by then, a new set of elected officials as councilmembers, and possibly the Mayor of Oakland), seek a new ENA partner. With the new landscape of players, who will that be?My bet is that would be based on how the City of Oakland moves forward with, or kills, the Oakland-Alameda County Coliseum Joint Powers Authority. If it makes it into a Public Financing Authority governing an Enhanced Infrastructure Financing District, then the resulting subsidy and Infrastructure Financing Plan, and what should be the Public Financing Authority’s call for developers to participate, will result in landing a capable set of builder partners (not one organization, for financing reasons).Will the City of Oakland make the Public Financing Authority for AASEG? Will the AASEG solve its legal problems? Will it buy the land from the Las Vegas-bound Oakland A’s?Stay tuned.
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