The Oakland Athletics organization recently made a presentation to the Las Vegas Stadium Authority regarding their plans to build a new stadium in the city. Sandy Dean, an executive with the A’s, stated that they do not expect to utilize the full $380 million in public funds allocated for the project. Instead, they are planning to use $350 million of those funds, leaving $30 million unspent. Additionally, the A’s intend to finance $300 million of the stadium costs, although no lenders have been officially secured as of yet.
In order to cover the remaining costs of the $1.5 billion stadium, the A’s have enlisted the help of New York-based Galatioto Sports Partners to identify potential investors. Private equity is expected to contribute $850 million towards the project, with plans to secure the required financing to supplement the public funding provided by the Nevada Legislature.
The A’s have set a goal to open the 33,000-seat ballpark in time for the 2028 season. Discussions about a 30-year non-relocation agreement were held during the recent board meeting but have not been finalized. The team has also expressed interest in playing up to seven games over two years in international locations or at special U.S. sites like the Field of Dreams in Iowa, with a maximum of four games to be played outside of Las Vegas.
Comparisons and Construction
Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, reassured that the financing for the stadium would be in place and that construction is anticipated to progress smoothly. Drawing parallels to the construction of Allegiant Stadium, Hill expressed confidence in the city’s ability to handle major projects efficiently. While the A’s are looking to replicate the success of PSLs (personal seat licenses) in securing funding, they have not yet determined where or how these will be offered to fans.
With the A’s current season marking their last in Oakland, plans have been made to play the following three seasons, with a potential fourth, at a Triple-A stadium in West Sacramento, California. This temporary arrangement will see the A’s sharing the facility with the River Cats, the Triple-A affiliate of the San Francisco Giants.
The Oakland A’s ambitious plans for a new stadium in Las Vegas are well underway. With a detailed financing strategy, a strong focus on securing investors, and a clear timeline for construction, the organization is taking significant steps towards achieving their goal. As fans eagerly await the unveiling of the new ballpark, the A’s are navigating through the final stages of their tenure in Oakland, setting the stage for an exciting new chapter in Las Vegas.