Latest On A’s Stadium Situation
The A’s stadium drama has been one of MLB’s biggest storylines in recent months. The franchise has already expressed hopes of striking a deal in Las Vegas that would allow it to relocate from Oakland within the next few years. They’ve completed two land purchase deals for potential stadium sites in recent months, but the franchise’s biggest hurdle — a public funding agreement with the Nevada legislature — has yet to materialize.
According to reports on Monday, the organization is expected to officially present a funding proposal by the end of the week. That still hasn’t happened and several reports yesterday indicated a possible reluctance on the part of lawmakers to comply with the A’s request. The franchise’s unofficial proposal is expected to see $395 million in public funding through bonds issued by Clark County, to be paid for with taxpayers’ money related to the stadium project. The organization originally wanted to target $500 million in bonds before revising its expected demand after changing the location of its target stadium.
Even that “reduced” amount of $395 million doesn’t seem acceptable to lawmakers. Both Mick Akers of the Las Vegas Review-Journal and Tabitha Mueller/Howard Stutz of the Nevada Independent reported yesterday that lawmakers are not interested in the $395 million asking price. The exact size of the gap between the organization and the state is presented differently in the respective reports.
The Nevada Independent suggests that lawmakers consider approving between $150 million and $195 million in tax credits, which would leave a gap of over $200 million over the amount the organization wants. The Review Journal goes into more detail, reporting that government officials are willing to provide $320 million in funding. That would be significantly less, but still a not inconsiderable $75 million below the A target.
Akers writes that the A’s formal funding proposal is not expected to go before lawmakers until next week. MEPs’ meetings only last until June 5, leaving a small window of opportunity for an agreement to be approved before the session ends. The governor or two-thirds of the legislature can call a special session if necessary to continue negotiations beyond June 5, Mueller and Stutz note.
In any case, it is becoming increasingly urgent for the organization to speed up the talks. The franchise hopes to build a 30,000-seat retractable-roof facility at the south end of the Vegas Strip at an estimated cost of $1.5 billion. A little over $1.1 billion would be paid by the A’s under their expected proposal, with the $395 million in public funds making up the remainder of the cost. It remains to be seen whether both sides will give way to the funding discrepancy (however large it is at the moment) in order to reach an agreement.
Under the 2022–26 collective bargaining agreement, the A’s have until January 15 to sign a stadium deal somewhere if they want to retain their status as revenue-sharing recipients. It’s clear the organization hopes this will take place in Las Vegas, although there’s a chance they’ll refocus on Oakland if talks with Nevada lawmakers fail.