OAKLAND, Calif. (KGO) -- An investment group provided an update on their proposal to create an African American majority-owned NFL expansion team in the NFL.
The group said they have sent a letter of intent to purchase the city's interest in the Coliseum site.
Participants included Raymond "Ray" Bobbitt of the African American Sports and Entertainment Group (or AASEG), developer Alan Dones, former Oakland city manager Robert Bobb, and sports agent Bill Duffy. Bobbitt says they submitted a plan to the NFL in June and received a favorable response a month later, in which the league provided a framework for how the AASEG should proceed.
The group is considering a community-ownership model, similar to that of the Green Bay Packers.
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The multi-billion dollar plan also includes building up the Hegenberger Corridor and surrounding neighbors of East Oakland. They envision an education center, museum, convention center and longer-term, more housing..
If the plan is approved, it would still be several years before a team plays in Oakland. But AASEG already has strong community support, including the likes of the Oakland Black Chamber of Commerce, several unions and city government.