The Oakland Athletics’ move to Southern Nevada is set to make significant progress on Thursday when the Las Vegas Stadium Authority is expected to approve key documents related to a 30-year lease, non-relocation, and development agreements. The approval comes after an increase in the projected cost of the new ballpark, which has risen by $250 million to $1.75 billion. This approval is seen as a crucial step before construction can begin in the spring on the stadium, which will be located on the Las Vegas Strip and is slated to open for the 2028 season.
Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, has expressed confidence that the agreements will be approved, based on months of review and numerous drafts of the documents. Hill noted that while the board still has an opportunity to ask questions, he anticipates that any concerns have already been addressed. A backup meeting is scheduled for December 12, but Hill expects it will be unnecessary if the approval occurs on Thursday.
The Nevada and Clark County governments are contributing $380 million in public funds toward the construction of the new ballpark, which will have a 30,000-seat capacity, expandable to 33,000. Public financing will only be provided after the Athletics have spent at least $100 million on the project, with the team already having invested $40 million. Team owner John Fisher has also increased his family’s financial pledge by $100 million, now totaling $1.1 billion, with additional loans from U.S. Bank and Goldman Sachs to cover $300 million.
The rise in construction costs can be attributed to inflation and design changes, which have added 70,000 square feet to the stadium. The revised design includes enhanced amenities for fans and players, such as under-seat cooling and improved acoustics for concerts. Club executive Sandy Dean emphasized that these upgrades have contributed to the project’s overall value, making it a more comfortable and fan-friendly venue.
Once the documents are approved, the next major milestone will be groundbreaking. The Athletics are expected to play at least the next three seasons at a minor league park in West Sacramento, California, while they finalize their relocation. Steve Hill described the deal as a significant achievement for both the city of Las Vegas and the sports world, as bringing Major League Baseball to the city and providing a world-class stadium is a rare and exciting opportunity.
