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AFRICAN AMERICAN SPORTS &

ENTERTAINMENT GROUP
ECONOMIC EQUITY THROUGH SPORTS & ENTERTAINMENT DEVELOPMENT
1423 Broadway #183, Oakland, CA 94612

October 6, 2020

The Honorable Mayor Libby Schaaf


& Members of the Oakland City Council
City of Oakland, California
One Frank H. Ogawa Plaza
Oakland, CA 94612

Dear Mayor Schaaf and esteemed Oakland City Council Members,

The African American Sports & Entertainment Group (“AASEG”) has been working over the
last several months to lay the groundwork for bringing a National Football League (“NFL”)
franchise back to Oakland. One of the critical factors in our ability to attract a new NFL
franchise is a viable home field location for the team. As well, we recognize the interests of
city leadership in the holistic redevelopment of the Coliseum area consistent with the vision
articulated by the 2015 Coliseum Area Specific Plan. We also recognize the City of
Oakland’s interest in maintaining a home for its Major League Baseball (“MLB”) franchise,
the Oakland Athletics. We believe that all these objectives can be achieved and to these
ends, we have assembled a Master Development Team well-capable of marshalling the
resources and expertise necessary to transform our mutual interests into reality. Our team,
described as the “AASEG Team”, is pleased to submit this non-binding, indication of
Interest, proposal to purchase the City of Oakland’s interest in the Coliseum property for a
total of Ninety Two Million Five Hundred Thousand Dollars ($92,500,000), payable per
the schedule provided in Exhibit A.
The AASEG Team

In addition to the enormous community support for our mutual vision, AASEG has
assembled a Master Development Team fully capable of executing the development of the
Coliseum property (the “Project”).

▪ BDA Sports Management – Led by respected sports agent Bill Duffy, BDA is one of the
world’s top ranked sports agencies focused, specifically on basketball. Bill has agreed to
apply his extensive network and decades of experience toward execution of the Project,
including assembling some of the leading names in sports and entertainment in support and
endorsement of the Project. Bill was one of the architects of the Ronnie Lott/Fortress
Capital plan that offered a viable option to build a stadium on the Coliseum site.

▪ Strategic Urban Development Alliance – One of Oakland’s largest African American real
estate development firms, SUDA has executed millions of dollars’ worth of projects in the
Bay Area. SUDA Chief Executive Officer, Alan Dones, has led development projects both in
the United States and Africa. He will provide development consulting to the Project.

▪ The Robert Bobb Group, LLC – With specialty capabilities in economic development,
urban planning and community and neighborhood engagement, RBG is an
African American owned national consulting firm to both public and private sector clients.
Chief Executive Officer Robert Bobb will provide consulting services to the Project.

▪ Loop Capital – The largest African American owned, full services investment banking
brokerage, financial advisory and investment management organization, Loop Capital
boasts a 23-year history of developing financial solutions for America’s largest public sector
institutions and private sector firms. In addition to its global capital markets, Loop Capital is
an experienced advisor on Public-Private-Partnership and infrastructure transactions. As
well, Loop Capital is part of a team developing a 100+ acre parcel owned by the City of
Chicago and the Metropolitan Pier Authority. Finally, Loop Capital’s Chief Executive Officer
Jim Reynolds is a partner in JLC Infrastructure, a private asset manager with over $800
million under management targeting investments in various publicly owned assets. Loop
Capital is the capital partner for the Project.
Stakeholder Interests

The AASEG Team is well aware of the aspirations of the citizens of Oakland and other
stakeholders with respect to the Project and is prepared to engage the City as a partner in
the execution of a mutually-agreed upon vision embodied in a Community Benefits
Agreement that includes:

• Local hiring with priority on racial equity


• The engagement and inclusion of local and small business contractors
and businesses
• Environmentally friendly landscaping and sustainable, energy efficient
design
• Anti-displacement assistance and housing preservation policies for
residents in the development area
• The inclusion of affordable housing
• Project Labor agreements and labor peace
• Local employment and job access provisions, workforce training,
retention of existing workers, and apprenticeship policies
• Living wages, benefits, and stable employment opportunities
• Environmental mitigation measures
• Open space elements
• Sustainable and healthy development
• Transportation infrastructure and transportation demand management
programs, including transit affordability and accessibility
• Potential impact fee’s (housing, transportation, capital improvements)
• Other community benefits as needed and feasible, to be negotiated

Finally, we are keenly aware of the interests of the Oakland Athletics organization in a
second option for a baseball stadium should current objectives not come to fruition. The
AASEG team is prepared to maintain development space in the Project toward those ends
and looks forward to engaging the A’s to fully understand and address their interests.

The AASEG Team is excited to work with the City of Oakland to develop a definitive
agreement for the purchase and Master Developer control of the Oakland-Alameda County
Coliseum complex and is prepared to engage staff and leadership to craft an agreement
that reflects the provisions in this indication of Interest. We are eager to begin due diligence
activities and formal discussions upon the City of Oakland’s acceptance of this non-binding
offer. We believe that this historic undertaking will be a perfect example of the African
American community being supported by the larger community in achieving economic
equality. We are extremely grateful to be in a position to provide jobs and housing for the
citizens of Oakland, and to continue to provide world-class sports and entertainment
facilities for the entire East Bay region.
As America wrestles with social change, social justice, and economic justice, Oakland can
lead the way in demonstrating what real impact is. As proud Oaklanders, it is a part of our
DNA. It is simply who we are, and what we do best. We look forward to helping lead that
change in the City of Oakland.

Sincerely,

Ray Bobbitt

African American Sports and Entertainment Group

cc: The Honorable Rebecca Kaplan, Council President

The Honorable Councilmember Dan Kalb, District 1


The Honorable Councilmember Nikki Fortunato Bas, District 2
The Honorable Councilmember Lynette Gibson McElhaney, District 3
The Honorable Councilmember Sheng Thao, District 4
The Honorable Councilmember Noel Gallo, District 5
The Honorable Councilmember Loren Taylor, District 6
The Honorable Councilmember Larry Reid, District 7
City Administrator Ed Reiskin
AASEG, LLC
BDA Sports 7
The Robert Bobb Group
SUDA, LLC
Loop Capital
Exhibit A

AASEG Team

Oakland Coliseum Property Purchase Proposal


Schedule of Proposed Payments