In surprise move, Oakland to sell off Coliseum stake to fix budget crisis

Facing a steep budget shortfall with few easy solutions, Oakland officials said Wednesday the city will sell its share of the Coliseum — perhaps the most notable piece of real estate in the East Bay.

The city will speed up existing plans to eventually transfer its 50% ownership share of the 155-acre property — including the soon-to-be-former A’s stadium, a nearby arena and lots of parking space in between — to a local Black-led group of developers.

Few details of the African-American...