The Oakland A’s reportedly made major steps toward a stadium funding deal in Las Vegas, but appear to be accepting less public money than they initially sought.
The team and key state stakeholders have agreed to a legislative package expected to be introduced this week, according to the Nevada Independent. The state would offer less than the $195 million maximum it was reportedly willing to contribute, while Clark County would provide less than the $200 million in bonds the team had sought from it.
The agreement was reached through conversations between the team, Gov. Joe Lombardo’s office, the state treasurer, and representatives from state lawmakers and the county.
A presentation to the full Nevada legislature is anticipated this week. Lawmakers have until June 5 to approve a deal before the legislative session ends, but the governor could call a special session to continue negotiations past that date.
Legislators set a limit of $175 million in state funds, per Fox5 Las Vegas. County officials had expressed concerns that property taxes could rise if the A’s failed to meet revenue expectations related to a bond deal.
The A’s are expected to ask for an exemption to the 9% live entertainment tax on tickets to shows and sporting events. Both the Las Vegas Raiders and Golden Knights secured an exemption from the tax.
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