OAKLAND (KCBS) — The crown prince of Dubai is among the financial backers of a plan to remake the Oakland Coliseum sports complex into a sports and entertainment destination called Coliseum City, Oakland Mayor Jean Quan said Thursday.
In an interview on 95.7 The Game, Quan revealed the developers on the project have partnered with the man “who is next in line to lead Dubai.”
Sheikh Hamdan bin Mohammed Al Maktoum, 31-year-old son of the emir who rules the oil-rich Persian Gulf emirate, has a net worth in excess of $4 billion, according to Forbes Magazine.
Mayor Quan unveiled the Coliseum City plans in 2012, but the project languished until last October when the city signed up a new development team that included Colony Capital, the world’s third largest private real estate company.
Quan’s comments counter concerns about the viability of the project.
Both Oakland A’s baseball games and Oakland Raiders football games are broadcast on 95.7 The Game.