The operator of the storied Oakland Coliseum and Oakland Arena is laying off workers en masse as Oakland officials prepare to sell both venues.
Legends Global is laying off all 1,600 employees as Oakland and Alameda County prepare a sale to two separate entities looking to buy the former home of the Oakland Raiders and Athletics, as well as the Golden State Warriors’ former arena.
A group of investors under the Oakland Acquisition Company is planning on buying both venues and then selling the arena to the Oak View Group.
The city of Oakland and Alameda County jointly own both venues for now, and employees can plan on working through the end of the year at least, Legends Global said. The arena is considered the more profitable venue, and already has several concerts planned for 2027.
The former Raiders home is a much different story.
The stadium has no events booked for 2027 after the Oakland Roots professional soccer team played their last game at the venue after continually struggling to fill seats. Major League Baseball’s Oakland Athletics, now just the Athletics, last played there in 2024 before moving to West Sacramento.
A spokesperson for the Oakland Acquisition Company, Ray Bobbitt, told the San Francisco Chronicle that the company plans to rehire all the unionized employees who will be laid off.
“Nothing for the people working there will change,” Bobbitt said. “They’ll transition from Legends to Oak View Group.”
One investor gave more clarity to the situation, hinting it could be a bit more complicated than that.
Susan Cronin said the laid-off workers will still have to reapply to their jobs, “but the intention is to hire them back.”
Cronin, Bobbitt, Jim Reynolds of Loop Capital and basketball agent Bill Duffy comprise the Oakland Acquisition Company. Oak View Group was founded by music industry mogul Irving Azoff.
The Oakland Acquisition Company is hoping to close the deal by the end of the year, if they don’t hit any further snags. Oakland will net $125 million and Alameda County will net $115 million for the sale.
Legends Global’s contract with the venues expires on Dec. 31.
The company submitted a rival bid, but it appears to have failed with the Oakland Acquisition Company’s pursuit of the venues. The company benefits from managing the properties, with a management fee of 12% of the revenue it generates, which was $2.22 million in the 2024 fiscal year.
The county will need to fully back out of a 2019 sale of the Coliseum to the A’s, which a lawsuit is stalling. An expected close date for the deal has been continually pushed back.
Oak View Group has agreed to pay at least $100 million for the arena. Monster Jam and several Calvin Harris tour dates are set for 2027 in Oakland Arena.
Azoff previously said he wants to transform the fan experience at Oakland Arena.
“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.”
Officials plan to eventually tear down Oakland Coliseum to make way for a mixed-use redevelopment project.
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