Dubai prince involved in Oakland's Coliseum City project

Dubai prince involved in Oakland's Coliseum City project
April 11, 2014, 12:45 pm
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Hamdan bin Mohammed Al Maktoum, 31, is the prince of Dubai, next in line to rule the emirate. (AP)

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Oakland mayor Jean Quan expects some tangible progress on the Raiders stadium search by this summer, this fall at the latest.

She also said that prince of Dubai has gotten involved. In a Thursday interview with 95.7 FM that discussed all three Oakland-based professional sports teams, Quan said that Colony Capital has “partnered literally with the prince of Dubai, who is next in line to lead Dubai. They have capital.”

The prince of Dubai is Hamdan bin Mohammed Al Maktoum, a 31-year old who is next in line to rule the emirate, which is part of the United Arab Emirates in the Middle East. Dubai has immensely profitable oil reserves, and the royal family ranks among the wealthiest in the world.

It was previously known that Colony Capital, which is owned in part by the state of Qatar, had partnered with Hayah Holdings, an investment company based in Dubai, to develop a proposed Coliseum City project in Oakland that could house from one to three sports venues in addition to hotels and retail establishments.

“They are in negotiations with the Raiders about their stadium and to fill out the rest of their economic development plan,” Quan said. “I expect that by the end of summer, we’ll have some results.”

Raiders owner Mark Davis has been emphatic about his desire to stay in Oakland, but has become jaded by unfulfilled promises of progress.

“(Oakland mayor Jean Quan) stated publicly that she wanted to have a deal done by the end of last football season,” Davis said last month at the NFL owners meetings. “That came and went. Now she’s talking about this summer. We’ll see how that goes, but we’re trying. We’re really trying."

Quan inferred that the Raiders could be in pole position regarding the Coliseum City project, and that decisions made regarding a football stadium could impact the Athletics baseball team.

“Once the Raiders and the investors know what they’re going to do and where they’re going to place the stadium, that leaves other options for the A’s. The A’s will have to make a decision sooner or later … If the Raiders are done first, the question falls to how many more stadiums (will there be) and where do you place them, the hotels and the retail.”