Legends Global, the company operating Oakland Coliseum and Oakland Arena, is preparing to lay off all 1,600 of its employees as city and county officials move toward selling the two longtime sports and entertainment venues.
Oakland and Alameda County are working toward a transaction involving two separate buyers for the former homes of the Oakland Raiders, Oakland Athletics and Golden State Warriors. The Oakland Acquisition Company intends to purchase both properties before selling the arena to Oak View Group.
The city and county currently share ownership of the venues. Legends Global said employees are expected to remain on the job at least through the end of the year. Oakland Arena is viewed as the stronger financial performer and already has multiple concerts scheduled for 2027.
The outlook for the former Raiders stadium is considerably less promising.
Oakland Coliseum currently has no events scheduled for 2027. The Oakland Roots soccer team recently played its final game there after repeatedly having difficulty drawing large crowds. The Athletics, now known simply as the A’s, left the stadium after the 2024 season and relocated to West Sacramento.
Ray Bobbitt, a spokesperson for the Oakland Acquisition Company, told the San Francisco Chronicle that the group intends to bring back all union employees affected by the layoffs.
“Nothing for the people working there will change,” Bobbitt said. “They’ll transition from Legends to Oak View Group.”
Another member of the investment group indicated that the process may not be quite as seamless as that statement suggests.
Susan Cronin said employees will need to apply for their positions again, although she emphasized that the plan is to rehire them.
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The Oakland Acquisition Company consists of Cronin, Bobbitt, Loop Capital’s Jim Reynolds and basketball agent Bill Duffy. Music industry executive Irving Azoff founded Oak View Group.
The acquisition group hopes to finalize the purchase by the end of the year, provided no additional obstacles emerge. Oakland is expected to receive $125 million, while Alameda County would collect $115 million from the sale.
Legends Global’s current operating agreement expires Dec. 31.
Legends also submitted a competing offer, but the Oakland Acquisition Company appears to have prevailed in its effort to acquire the properties. Legends earns a management fee equal to 12% of venue revenue, which totaled $2.22 million during the 2024 fiscal year.
Before the transaction can proceed, Alameda County must fully withdraw from a 2019 agreement to sell the Coliseum to the Athletics. That deal remains tied up in a lawsuit, and its anticipated closing date has been delayed repeatedly.
Oak View Group has committed to paying at least $100 million for Oakland Arena. The venue is scheduled to host Monster Jam and several Calvin Harris performances in 2027.
Azoff has previously said he plans to overhaul the Oakland Arena fan experience.
“This is not a rescue mission in itself; it’s just an opportunity to take what I consider to be a B experience and make it an A-plus experience,” Azoff said. “The fan experience at the arena is going to be second to none.”
Oakland officials ultimately plan to demolish the Coliseum and replace it with a mixed-use development.
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