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

OAKLAND — 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.

The city announced over the weekend it had reached a purchase-and-sale agreement to transfer its share of the Coliseum to Bobbitt’s African American Sports and Entertainment Group for $105 million.

Standing in a plaza between the sprawling concrete stadium rusted with sports history and the proud arena known until just recently as . . .