Oakland mayor Sheng Thao recently told ABC 7 that the city and the team are “very close” to a deal, if the A’s were willing to re-engage with the city. While the team has publicly said its attention is focused on Las Vegas, hope isn’t fully lost back in Oakland. The team quickly abandoned those plans, leading to last week’s announcement with Tropicana hotel owner Bally’s Corp and real estate investment trust Gaming and Leisure Properties (GLPI). The A’s initially stated their intention to move to Las Vegas on April 20, when they announced they were acquiring 49 acres of land from Red Rock Resorts in Las Vegas for a stadium and entertainment district. MLB commissioner: Oakland A’s ‘pretty settled’ on Las Vegas site relocation vote could come within month Previous reporting from the Independent indicated that Nevada state lawmakers were considering $150-195 million in tax credits. The team has not responded Tuesday to a request for comment on the matter. The team’s two-part money ask of the state of Nevada will reportedly be less than $195 million in transferable tax credits - the amount that the state legislature set as a maximum last week - while the request of $200 million in bonds from Clark County will also be reduced, too.
The A’s will reportedly request less than the $395 million in public financing the team said it needed when it agreed to a term sheet to build a stadium on the site of the Tropicana casino. The Nevada Independent reported Tuesday that the A’s and Nevada state officials have reached “a loose agreement” to publicly finance the team’s new stadium in Las Vegas. Their lease in Oakland runs through the 2024 season, and they may look to bridge the gap between venues by playing the 20 seasons at the home of their current Triple-A affiliate in Las Vegas.The Oakland A’s publicly stated their intentions to move to Las Vegas more than a month ago, and it seems that they are finally making progress on that relocation this week. However, given Rob Manfred's public support of the club's relocation efforts, such approval seems likely.Īssuming a move is finalized, the A's aim to have a new Las Vegas stadium completed in time for the 2027 season. As the numbers above suggest, the new reported informal agreement will not amount to $395 million in public financing.Īny move by the A's to Las Vegas or anywhere else will require approval from MLB's other 29 teams. That, in turn, led to them the Bally's site on the other side of Tropicana Avenue from their original target location. After that, the club reportedly lowered their ask to $395 million worth of public money, likely in the form of tax credits and the creation of a special taxation district to defray construction costs. However, in early May, the club began exploring backup options to the Red Rocks property, in large measure because they had been unsuccessful in securing that desired figure of $500 million in public funding for the stadium project. In April, the club entered what was characterized as a binding agreement to purchase land for a ballpark on Tropicana Avenue from Red Rocks Resorts and parent company Station Casinos.
The financing agreement comes days after the A's reached an agreement with Bally's to build a new baseball stadium on the Strip in Las Vegas.
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