The operator of the storied Oakland Coliseum and Oakland Arena is laying off workers en masse as Oakland officials prepare to sell both venues.
Venue operator Legends Global is laying off all 1,600 employees at the Oakland Coliseum and Oakland Arena ahead of a planned venue sale. The city of Oakland and Alameda County are preparing to sell the properties to the Oakland Acquisition Company, with current staff expected to work through at least the end of the year.
The Oakland Acquisition Company plans to purchase both sites before selling Oakland Arena to Oak View Group for at least $100 million. Oakland will net $125 million and Alameda County will receive $115 million from the transaction, while officials plan to ultimately tear down the Coliseum for redevelopment.
Get the latest sports news and top stories from MySportsTab delivered straight to your inbox.
No spam. Just the latest sports news and updates.
