Vincent Frank
LAS VEGAS — The Oakland Athletics pending move from Northern California to Las Vegas has hit a bit of a snag.
While it’s highly unlikely to derail a relocation that MLB has been pushing for over the past several months, financial hurdles have come up.
The A’s have been seeking $395 million in public financing from Clark County, the home of Las Vegas. It’s part of a broader $1.5 billion agreement that the A’s have come to with Bally’s Corp. to build a new state-of-the-art venue at the current site of Tropicana Las Vegas on the Strip.
As of right now, a $75 million gap remains between what the A’s are asking for and the Nevada State Legislature is willing to dole out.
“As the A’s and lawmakers try to finalize draft language for a bill that would dedicate tax funding for stadium construction, state and county officials have committed to $320 million of the Major League Baseball team’s $395 million request,” Las Vegas Review-Journal report on the Oakland Athletics situation.
With the legislative session set to end next month, there’s a push by both sides to get a bill introduced. As of right now, an A’s stadium funding bill is on track to be introduced in the Nevada state capital next week. The sides are still negotiating a way to work out the differences.
Generally, $75 million of a broader $1.5 billion stadium project wouldn’t be a big deal. That’s until we realize Nevada Governor Joe Lombardo (R) came out in support of the project despite obvious push back from fiscal conservatives within his own party in the state. The question of public financing is also a big topic among residents of Clark County, in which 73% of the state’s population resides.
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Finances and the Oakland Athletics relocation to Las Vegas
The A’s are prepared to finance $1.1 billion of the $1.5 billion stadium project on the heart of the Vegas Strip with lawmakers agreeing to $320 million. Hence, the $75 million split.
Bally’s Corp has promised $180 million worth of land to the A’s at no cost. But they also want to see a strong commitment from those at the county and state-wide level.
“We would love to see some type of similar commitment from the county and state,” Kim said. “That’s a collective community effort to attract all of these franchises and all of the economic activity that comes with it. We’re planting the flag and hope that everyone gets there,” Bally’s Corp. chairman Soo Kim said recently.
It’s highly unlikely that this would derail a deal between the parties. In a vacuum, lawmakers are supportive of the Oakland Athletics relocating to Southern Nevada, joining the NFL’s Las Vegas Raiders as a professional sports team to bolt Northern California for Southern Nevada. It’s now all about that $75 million gap.
As for the A’s and their embattled ownership group. John Fisher continues to receive push back from those in Oakland after failing to come to terms on an agreement for a new ballpark with city officials.
The A’s play at the most rundown venue in all of North American professional sports. They are averaging a mere 8,695 fans per game at Oakland Coliseum this season. That’s the lowest figure by nearly 4,000 around the MLB world. Meanwhile, the A’s sit at a MLB-worst 10-35 on the season. Things are only going to get uglier between fans and the team moving forward.
All the while, MLB Commissioner Rob Manfred has continued to come out in support of the A’s moving to Las Vegas. If this $75 million difference really is an issue, individuals from outside of the lawmakers in Nevada and Oakland’s brass could get involved.
