The city of Oakland is set to sell its half share of the Oakland Coliseum site, an expected development after the losses of the Raiders, Warriors and A’s.

The city is expected to announce a tentative agreement Wednesday with the African American Sports & Entertainment Group — a consortium of local investors, some with ties to professional sports — at a sale price of at least $105 million, according to The San Francisco Chronicle.

The potential sale would alleviate city budget concerns while allowing the local group to re-develop the site. The AASEG has been working toward the goal of a new mixed-use project that could include a convention center and the prospect of luring new professional sports teams.

The A’s, meanwhile, are still in the process of acquiring the other half of the 112-acre site from Alameda County, though the purchase has been clouded by a court case scheduled for later this year, according to The Chronicle. Oakland agreed to purchase Alameda County’s half in 2019 and said in December it would pay the remaining $45 million owed.

The AASEG has reportedly been in negotiations with the A’s for the other 50 percent of the site.

The Oakland Coliseum was built in the early 1960s and housed the Raiders from 1966 to 1981, when the franchise moved to Los Angeles, and again from 1995 to 2019 when it returned. The Coliseum has been home to the A’s since 1968. The baseball franchise will play its home games in Sacramento next season and continue playing there until its permanent stadium in Las Vegas is ready.

Required reading

(Photo: Thearon W. Henderson / Getty Images)