Latest On Athletics’ Las Vegas Ballpark Plans

The Las Vegas Stadium Authority Board is set to meet on Thursday, and several important elements of the Athletics’ plans to build a new ballpark in Vegas for the 2028 season will be addressed at the sessions.  Mick Akers of the Las Vegas Review-Journal (two links) has the details of the ballpark-related matters on the agenda, including letters regarding the financing of the project — the four letters are from the A’s themselves, owner John Fisher regarding his family’s investment, U.S. Bank regarding the Fisher family’s finances and ability to meet their agreements, plus a letter from both U.S. Bank and Goldman Sachs in regards to their $300MM loan to the A’s to help fund construction of the new stadium.

Perhaps the biggest takeaway is that the price tag of the project is going up, from $1.5 billion to $1.75 billion.  The increase wasn’t a surprise, and A’s executive Sandy Dean says the extra money is necessary “is due to combination of adding a variety of features to the ballpark along with general increases in construction costs.”  The new features include  upgrades to the suites and general admissions areas, an audio and visual system that can make the venue capable of hosting concerts, and the unique element of seat-cooling system.

The costing breakdown will see up to $380MM covered by Clark County and the state of Nevada, $300MM covered by the U.S. Bank/Goldman Sachs loan, and the rest (including the additional $250MM in new costs) will be paid for by the Fisher family and the Athletics.  The Fishers’ stake could be reduced if minority owners are found, as those new partners would take on part of the construction costs in exchange for a small share in the franchise.  Akers notes that the A’s will be responsible for any further increases in the project’s budget, and Dean said that the Athletics’ outline still accounts for spending only $350MM of the $380MM committed by civic officials.

Three key agreements will be decided at Thursday’s meeting, covering the matters of not just the ballpark’s construction, but also such elements as the length of the first lease (initially set for 30 years) and what would happen if the Athletics tried to leave down by those 30 years were up.  These particular elements make this meeting “the most important to date” in the Athletics’ quest to get the project officially underway, Akers writes.

If all goes to plan, construction will officially begin this spring, with an eye towards the ballpark being ready for Opening Day 2028.  In the interim, the A’s will be playing at Sutter Health Park in West Sacramento for the 2025-27 seasons.