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Posting date: May 24, 20,23, 9:08h
Last updated: May 25, 2023 at 8:08h
The Oakland A’s and Nevada Governor Joe Lombardo (R) on Wednesday announced the next necessary step in bringing Major League Baseball to Las Vegas — a tentative agreement between their offices, Nevada State Treasurer Zach Conine, and Clark County officials on a bill to be considered by the Nevada Legislature.
The press release announcing the agreement stated that the bill would create a “sports and entertainment improvement district” for a 30,000-seat, publicly owned, retractable roof stadium located on the Las Vegas Strip. However, it left out one crucial detail: how the $1.5 billion ballpark, constructed on the site of an imploded Tropicana Las Vegas, would be funded.
According to the Nevada Appeal, the A’s are now willing to accept $325 million in public financing, $175 million less than their original $500 million ask and $75 million less than the $395 million they reportedly sought in bonding and tax breaks upon switching their preferred stadium site from Red Rock Resort’s former Wild Wild West property to the Tropicana Las Vegas, owned by Bally’s Corp. earlier this month.
According to KVVU-TV/Las Vegas, Nevada lawmakers are willing to contribute $180 million. According to KLAS-TV/Las Vegas, Clark County agreed to come up with the other $120 million.
The deal is expected to be announced on Saturday.
No doubt adding to negotiation tensions, a public financing package needs to be approved by the Legislature before it adjourns on June 5, though it could be voted on in a special legislative session.
According to the press release, the bill will be introduced “in the coming days.”
What the Press Release Said
The press release quoted Gov. The press release quoted Gov. Lombardo saying: “This agreement is the result of months of negotiations among the state, county and A’s. I believe that it provides us with a great opportunity to build on the professional sports infrastructure in southern Nevada.” Major League Baseball is a natural fit for Las Vegas. We would like to thank the Governor Lombardo and the Legislative Leadership, Treasurer and Clark County Commissioners for the collaborative process. We look forward to advancing this legislation in a responsible way.”
Meantime, the Oakland A’s are playing record-breakingly bad baseball. After their 3-2 defeat to the Seattle Mariners, they are now 10-40. This is the same as the 1932 Boston Red Sox, who had the worst start to a major-league season in the last 100 years.