The $105 million sale provides much-needed cash to Oakland, which would have faced more than $60 million in cuts to municipal services if the agreement hadn't been signed in the next month.
The Ballers play home games at Raimondi Park in West Oakland and have sought to establish themselves as a pro baseball replacement for the Oakland A's.
Oakland has seen an overall decrease in crime since February, which Newsom attributes to the presence of the CHP, something he plans to increase fourfold.