Conflict Of Interest? Oakland Coliseum JPA Exec Gardner Sold Muni Firm To Loop Capital In 2011 - Oaknews
Conflict Of Interest? Oakland Coliseum JPA Exec Gardner Sold Muni Firm To Loop Capital In 2011
Oakland Coliseum Executive Director Henry Gardner is well-regarded for his work as Oakland's first black city manager. From 1981 to 1993, Henry Gardner built Oakland into a city considered one of the best managed in America. Gardner is considered by many, including this Oakland blogger, as a high-integrity man who makes sure that all of the "I's" are dotted and the "T"'s are crossed in negotiations with all types of parties from labor lawyers to sports team owners. A person so well regarded as Henry Gardner would not expect to leave out a detail of high importance in a situation like the Oakland Coliseum Sale to The Oakland Acquisition Company / African American Sports and Entertainment Group (AASEG). But it appears that Henry sold his municipal investment banking firm Gardner, Underwood, and Bacon to the same Loop Capital that is part of the Oakland Acquisition Company and affiliated with the African American Sports and Entertainment Group (AASEG). According to an article in the L.A. Business Journal of 2011: Loop Capital Markets, considered the nation’s largest minority-owned investment bank and brokerage firm, on Tuesday said that it acquired Los Angeles financial advisory firm Gardner, Underwood & Bacon LLC. Gardner, Underwood & Bacon specializes in advising municipalities and large utilities nationwide. Since 2002, it has served as a financial advisor on more than 250 transactions, totaling more than $30 billion, according to Chicago-based Loop Capital, which has nearly 20 offices around the country. “Loop Capital Markets’ acquisition of Gardner, Underwood & Bacon will help increase our firm’s presence in Los Angeles and the state of California,” said Loop Capital Chief Executive Jim Reynolds Jr. in a statement. Financial terms of the deal were not disclosed. Gardner, Underwood & Bacon’s principals and staff will honor existing contracts and eventually transition from financial advisory assignments to become part of Loop Capital’s public finance investment banking team, Loop Capital said. And the article stopped there. But the person listed as the key contact for Gardner, Underwood & Bacon is none other than the same Henry Gardner that is the Coliseum JPA Executive Director today. It begs the question if Henry has been carrying the water for Jim Reynolds Jr by tipping him off to the AASEG matter, or getting Loop Capital involved in City of Oakland municipal finance opportunities. Loop Capital Markets plays two prominent and distinct roles in the municipal finance landscape of the City of Oakland: as a major municipal bond underwriting partner and as a direct private financier for the city’s landmark real estate development The $334 Million Bond Sale: In December 2025, the City of Oakland successfully issued $334 million in General Obligation (GO) bonds. Loop Capital Markets, alongside BofA Securities, acted as the co-managers under lead underwriter Siebert Williams Shank & Co. Loop Capital provides the core private financial backing for the Oakland Acquisition Company (OAC)—a joint venture with the local African American Sports & Entertainment Group (AASEG).Project Scope: In mid-2026, the city approved a massive $125 million deal to sell its 50% stake in the 112-acre Oakland Coliseum property to the group. Loop Capital is financing both the multi-phase acquisition and the eventual multibillion-dollar redevelopment plan. Now how Loop Capital got into these deals is explained by Jim Reynolds as happening because AASEG's Ray Bobbitt contacted him. But suspiciously left out of this story is the connection between Henry Gardner and Loop Capital. Jim Reynolds had to know that Henry Gardner was running the Coliseum JPA. Right? Well, according to Gardner himself, no. Henry was kind enough to answer my email question to him in this way: I have nothing further to offer on this matter. I made a very public disclosure before the Oakland City Council when AASEG proposed bringing a WNBA league to Oakland and that Loop Capital would be the financing arm that I had previously worked for Loop Capital as a Managing Director. Since then I have made several public statements about my past relationship to Loop Capital. This fact is very well known. I have had absolutely no involvement with the negotiations regarding the purchase of the property, including as late as of today. I also made that point at the Board meeting last Friday. Everybody involved in the negotiations can attest to that. I had absolutely nothing to do with Ray Bobbitt bringing in Loop Capital and only learned about it after the fact. That was important because for all of the times he's been before a mic, that information has not been put in the media. Now it is. Conflict Of Interest? Some say no, and Gardner's openness in revealing the news supports that view. 🎙️ New to streaming or looking to level up? Check out StreamYard and get $10 discount! 😍 https://ift.tt/KNqrbOX
via YouTube https://www.youtube.com/watch?v=hRJ4_2AqIIE
Oakland Coliseum Executive Director Henry Gardner is well-regarded for his work as Oakland's first black city manager. From 1981 to 1993, Henry Gardner built Oakland into a city considered one of the best managed in America. Gardner is considered by many, including this Oakland blogger, as a high-integrity man who makes sure that all of the "I's" are dotted and the "T"'s are crossed in negotiations with all types of parties from labor lawyers to sports team owners. A person so well regarded as Henry Gardner would not expect to leave out a detail of high importance in a situation like the Oakland Coliseum Sale to The Oakland Acquisition Company / African American Sports and Entertainment Group (AASEG). But it appears that Henry sold his municipal investment banking firm Gardner, Underwood, and Bacon to the same Loop Capital that is part of the Oakland Acquisition Company and affiliated with the African American Sports and Entertainment Group (AASEG). According to an article in the L.A. Business Journal of 2011: Loop Capital Markets, considered the nation’s largest minority-owned investment bank and brokerage firm, on Tuesday said that it acquired Los Angeles financial advisory firm Gardner, Underwood & Bacon LLC. Gardner, Underwood & Bacon specializes in advising municipalities and large utilities nationwide. Since 2002, it has served as a financial advisor on more than 250 transactions, totaling more than $30 billion, according to Chicago-based Loop Capital, which has nearly 20 offices around the country. “Loop Capital Markets’ acquisition of Gardner, Underwood & Bacon will help increase our firm’s presence in Los Angeles and the state of California,” said Loop Capital Chief Executive Jim Reynolds Jr. in a statement. Financial terms of the deal were not disclosed. Gardner, Underwood & Bacon’s principals and staff will honor existing contracts and eventually transition from financial advisory assignments to become part of Loop Capital’s public finance investment banking team, Loop Capital said. And the article stopped there. But the person listed as the key contact for Gardner, Underwood & Bacon is none other than the same Henry Gardner that is the Coliseum JPA Executive Director today. It begs the question if Henry has been carrying the water for Jim Reynolds Jr by tipping him off to the AASEG matter, or getting Loop Capital involved in City of Oakland municipal finance opportunities. Loop Capital Markets plays two prominent and distinct roles in the municipal finance landscape of the City of Oakland: as a major municipal bond underwriting partner and as a direct private financier for the city’s landmark real estate development The $334 Million Bond Sale: In December 2025, the City of Oakland successfully issued $334 million in General Obligation (GO) bonds. Loop Capital Markets, alongside BofA Securities, acted as the co-managers under lead underwriter Siebert Williams Shank & Co. Loop Capital provides the core private financial backing for the Oakland Acquisition Company (OAC)—a joint venture with the local African American Sports & Entertainment Group (AASEG).Project Scope: In mid-2026, the city approved a massive $125 million deal to sell its 50% stake in the 112-acre Oakland Coliseum property to the group. Loop Capital is financing both the multi-phase acquisition and the eventual multibillion-dollar redevelopment plan. Now how Loop Capital got into these deals is explained by Jim Reynolds as happening because AASEG's Ray Bobbitt contacted him. But suspiciously left out of this story is the connection between Henry Gardner and Loop Capital. Jim Reynolds had to know that Henry Gardner was running the Coliseum JPA. Right? Well, according to Gardner himself, no. Henry was kind enough to answer my email question to him in this way: I have nothing further to offer on this matter. I made a very public disclosure before the Oakland City Council when AASEG proposed bringing a WNBA league to Oakland and that Loop Capital would be the financing arm that I had previously worked for Loop Capital as a Managing Director. Since then I have made several public statements about my past relationship to Loop Capital. This fact is very well known. I have had absolutely no involvement with the negotiations regarding the purchase of the property, including as late as of today. I also made that point at the Board meeting last Friday. Everybody involved in the negotiations can attest to that. I had absolutely nothing to do with Ray Bobbitt bringing in Loop Capital and only learned about it after the fact. That was important because for all of the times he's been before a mic, that information has not been put in the media. Now it is. Conflict Of Interest? Some say no, and Gardner's openness in revealing the news supports that view. 🎙️ New to streaming or looking to level up? Check out StreamYard and get $10 discount! 😍 https://ift.tt/KNqrbOX
via YouTube https://www.youtube.com/watch?v=hRJ4_2AqIIE
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