The Oakland A’s took major steps to move to Las Vegas this week — but still have to strike a deal with state and local governments for public funding.
The team is planning a $1.5 billion stadium and entertainment complex west of the Las Vegas Strip that would seat 35,000 and boast a retractable roof.
A’s leadership is seeking $500 million in public financing through bonds issued by Clark County, to be repaid through stadium-related taxes and the surrounding development of the 49 acres purchased by the team.
Nevada hasn’t introduced formal legislation around this issue, and its current legislative session ends on June 5, though negotiations could be extended. The A’s must come to an agreement on a new stadium by January 2024 to remain recipients of MLB’s revenue sharing.
The team could withdraw from their land-purchase agreement if no deal is reached, according to the Nevada Independent.
Raiders Owner Opposes A’s
The Las Vegas Raiders, who moved from Oakland in 2020, aren’t thrilled to see their former co-tenant at the Oakland Coliseum potentially following them.
“They squatted on a lease for 10 years and made it impossible for us to build on that stadium,” Raiders owner Mark Davis told the Las Vegas Review Journal. “I just have, again, a lot of personal animosity toward the front office.”
Davis received $750 million toward building Allegiant Stadium, which was repaid with hotel taxes.
