LAS VEGAS — On Thursday, the Las Vegas Stadium Authority is anticipated to grant approval for a 30-year lease along with non-relocation and development documents. This decision will remove the last significant obstacles for the Oakland Athletics, enabling them to build a stadium on the Las Vegas Strip and introduce Major League Baseball to a market that is rapidly expanding in the sports world.
Further details are still to be finalized, including a development agreement with Clark County. However, the projected timeline suggests that groundbreaking for the stadium could occur soon, with plans for it to open in time for the 2028 baseball season.
Due to inflation and enhancements made for fans and players, the A’s stadium costs have surged by $250 million, bringing the total up to $1.75 billion, as club executive Sandy Dean mentioned.
To support the project, Nevada and Clark County are investing $380 million in public funds. The design is for a domed stadium that will seat approximately 30,000 spectators but has an estimated maximum capacity of 33,000. Notably, public funding will only commence after the Athletics have invested a minimum of $100 million, and Dean indicated that the team has already contributed $40 million toward this amount.
Additionally, Dean revealed that club owner John Fisher has raised his family’s financial commitment to $1.1 billion. A $300 million loan will be provided by U.S. Bank and Goldman Sachs to help fund the project. Fisher is also seeking additional investors from both Las Vegas and other areas to buy equity in the team, according to Dean.
During the Stadium Authority meeting, four letters will be submitted to confirm that the necessary financing is secured for building the ballpark, irrespective of whether Fisher can attract more investors. These documents will detail a loan commitment from both financial institutions, confirmation of the Fisher family’s capacity to fulfill their financial obligations, evidence from U.S. Bank validating Fisher’s financial status, and commitments made to the Athletics StadCo LLC, a company set up for private capital investment.
In the interim, the A’s are set to play a minimum of three seasons in a minor league venue located in West Sacramento, California, following their recent conclusion of 57 seasons in Oakland.
The LVSA’s expected decision arrives just hours after it became public that the Athletics have finalized a deal with free-agent pitcher Luis Severino for $67 million over three years, marking the most substantial contract in the club’s history.
If this stadium plan goes through, it will add yet another professional team to the Las Vegas sports scene, which currently features the NFL’s Raiders, the NHL’s Golden Knights, and the WNBA’s Aces. The Golden Knights and Aces have celebrated a total of three championships in recent seasons, showcasing the vibrant sports culture in the city.
