Oakland’s completed sale to Black-led development group marks new beginning for Coliseum

East Bay Times

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Private Equity: Alden Global Capital

Oakland’s completed sale to Black-led development group marks new beginning for Coliseum

The long journey of acquiring the Coliseum is nearly done, which means everything is just beginning for Ray Bobbitt, his local development group and the iconic East Oakland property they are seeking to transform into a massive new complex. Standing in a plaza between the sprawling concrete stadium rusted with sports history and the proud arena known until just recently as "Roaracle," he acknowledged that the moment was making him emotional.