Phil Matier: Dubai Investors To Save Oakland Pro Sports?

OAKLAND (KCBS) – Foreign investors with deep pockets are said to be interested in developing a new sports complex in Oakland.

The complex would include new facilities for the Oakland A’s, Raiders and the Golden State Warriors.

According to a published report in the Oakland Tribune, a Dubai financier and the world’s third largest privately-held real estate company are about to join Oakland’s master planning team to fund a new feasibility study. They are interested in taking the lead in developing a whole new neighborhood on both sides of the Nimitz Freeway near the current sports facilities.

Mayor Jean Quan has said that she’s interested in a family-oriented venue that would include a bowling alley, roller skating rink, bars, restaurants, shops and a hotel.

Oakland already has set aside $3.2 million for a Coliseum City study.

The City Council would need to approve the new Dubai investors and extend the planning team’s exclusive negotiating agreement, which expires this month. The Oakland City Council is scheduled to address the matter in a private discussion Tuesday night.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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