Las Vegas Official Says City ‘Rounding Third’ In A’s Stadium Construction Approval Process
Aug 16, 2024, 2:24 PM | Updated: 2:25 pm
OAKLAND, CALIFORNIA - MAY 29: Fans sit behind signs referencing plans for the Oakland Athletics to move to Las Vegas during a game against the Atlanta Braves at RingCentral Coliseum on May 29, 2023 in Oakland, California. (Photo by Loren Elliott/Getty Images)
(Photo by Loren Elliott/Getty Images)
LAS VEGAS (AP) — Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, said he was optimistic three key documents needed to begin construction on a new stadium for the Athletics would be approved Dec. 5.
“We’re rounding third and heading for home,” Hill said after Thursday’s Las Vegas Stadium Authority board meeting.
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The A’s could secure a 99-year lease at their new Las Vegas ballpark, starting with a 30-year term and multiple extension options.
The team must meet approval conditions to secure extensions, or the lease will revert to a month-to-month arrangement.
📰: https://t.co/WshZhICurw pic.twitter.com/An9YdEG6ZJ
— Sports Business Journal (@SBJ) August 16, 2024
Hill and the LVCVA were so hopeful the approvals would come at that December meeting that three others were canceled. The board will next meet Oct. 17, and a meeting has been set aside for Dec. 12 as a “safety valve.”
The three documents that need to be approved for the planned $1.5 billion, 33,000-seat domed stadium on the Las Vegas Strip are the lease, non-relocation and development agreements. The lease agreement was presented Thursday without a vote.
That agreement provides an initial 30-year lease that ultimately can be extended up to 99 years. The agreement for the NFL’s Las Vegas Raiders is 30 years without language beyond that time frame.
Allegiant Stadium, which is home to the Raiders, opened in 2020. The A’s hope to open their ballpark in time for the 2028 season.
“I think mostly it wasn’t contemplated in 2016 when we passed the law,” Hill said. “You don’t necessarily need that information in the law. It gives us optionality. We talked about it during the process that we’re going to get to 15 or 20 years and the parties involved will probably reopen the lease and renegotiate it.”
Steve Hill: The Sept. 19, Nov. 21 and Dec. 19 stadium authority meetings canceled.
Oct. 17, Dec. 5 and Dec. 12 meetings planned for rest of the year. Dec. 12. #vegas #athletics #raidernation pic.twitter.com/J6vdaCWD6C
— Mick Akers (@mickakers) August 15, 2024
This is the A’s final season in Oakland. They agreed to play the following three seasons, with an option for a fourth, in a Triple-A stadium in West Sacramento, California. The A’s will share that facility with the River Cats, the San Francisco Giants’ Triple-A club.
The A’s have said they expected to spend $350 million in public money rather than the $380 million allocated by the Nevada Legislature.
The club has said it plans to finance $300 million of the stadium cost and the other $850 million would come from private equity. Hill said it’s possible the A’s could present their financing plan at the October meeting.
