Sandy Dean, an executive with the Oakland Athletics, informed the Las Vegas Stadium Authority on Thursday that the team does not anticipate using all of the $380 million in public funds allocated for their new stadium in Las Vegas.
Dean mentioned that the A’s plan to allocate $350 million of those funds, leaving $30 million unused. He also indicated that the team intends to secure $300 million in financing for the stadium, although no lenders have been finalized yet.
“We’ve received strong interest from several companies wanting to participate in this aspect of the project,” Dean stated.
The remaining $850 million required for the $1.5 billion stadium will be sourced from private equity. The A’s have engaged Galatioto Sports Partners, based in New York, to assist in finding investors.
During the board meeting, there was a discussion about a 30-year non-relocation agreement, but no action was taken on it. Additionally, A’s officials have requested permission to move up to seven games over two years from Las Vegas to international venues or special U.S. locations like the Field of Dreams in Iowa. They clarified that no more than four of these games per year would be played outside of Las Vegas.
The A’s aim to have the 33,000-seat ballpark ready for the 2028 season. They addressed the financing plans to complement the public funding approved by the Nevada Legislature in a special session last June and signed by Governor Joe Lombardo.
After the meeting, Dean and Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, affirmed that financing arrangements are being finalized for the team owned by John Fisher.
“The Fisher family could provide all the equity needed for the project,” Dean stated.
Hill mentioned that the lease agreement would be discussed at the August 15 stadium authority meeting. However, he did not anticipate voting on the necessary construction documents until December 19. Hill expressed confidence that the ballpark would be completed according to schedule.
“This town has a strong track record of building major projects quickly,” Hill commented. “The timeline for this baseball stadium is relatively conservative. Allegiant Stadium, home to the NFL’s Raiders, was built in less time than what the A’s have budgeted. While it’s different construction, there’s ample time to meet our goals. Everything is proceeding as planned.”
The stadium authority is following the framework that led to the opening of Allegiant Stadium in 2020.
That plan included personal seat licenses (PSLs), which also give fans the opportunity to secure seats for other events like concerts. The Raiders generated nearly $550 million through PSL sales.
Dean noted that while the A’s also have PSLs available, they have not yet decided where these licenses will be offered for purchase.
“The Raiders saw tremendous success with PSLs,” Dean said. “Baseball and football are different because baseball has many more games, making a season ticket more valuable compared to football at the same price.”
Fans purchasing tickets will have views of the Strip resorts MGM Grand and New York-New York. The exact location had been somewhat uncertain.
“This is a necessary step to advance the project,” Hill remarked.
This season marks the A’s final year in Oakland. They have agreed to play the next three seasons, with an option for a fourth, in a Triple-A stadium located in West Sacramento, California. The A’s will share this facility with the River Cats, the Triple-A affiliate of the San Francisco Giants.
