The $380 million public funding bill for a new stadium on the Las Vegas Strip for the Oakland Athletics has cleared all legislative hurdles in Nevada, and now the next step is for the A's relocation efforts to earn approval from the other 29 team owners of Major League Baseball.
The bill was approved by the Nevada Senate during a special session Tuesday, and on Wednesday the Nevada Assembly voted in favor of the deal. Shortly thereafter, the Senate approved amendments to the bill, and on Thursday Gov. Joe Lombardo signed it. As a vocal backer of the bringing to A's to Las Vegas, Lombardo was indeed expected to sign.
After the governor's signing, the club released the following statement:
"Today is a significant step forward in securing a new home for the Athletics. We thank Nevada Governor Lombardo, Legislative leaders, and Clark County Commissioners and staff for their hard work, support, and partnership. We will now begin the process with MLB to apply for relocation to Las Vegas.
"We are excited about Southern Nevada's dynamic and vibrant professional sports scene, and we look forward to becoming a valued community member through jobs, economic development, and the quality of life and civic pride of a Major League Baseball team."
Given the supportive statements of MLB commissioner Rob Manfred, MLB owners are likewise expected to approve the A's proposed move. The most significant remaining challenge is for A's owner John Fisher to secure the rest of the funding for the $1.2 billion project.
The public funding bill was not advanced before the normal legislative session ended last week, and two amendments were added to address several outstanding issues.
The contentious funding package includes up to $380 million in public assistance, with $180 million in transferable tax credits and $120 million in county bonds, which are tax-payer backed loans. The A's would not owe property taxes and a special tax district around the stadium would be carved out. The true cost would be well north of $380 million, as Field of Schemes explains.
It should be noted the $380 million funding bill is not specific to the Athletics. Should ownership fail to secure the necessary funding for the rest of the project and ultimately not relocate to Las Vegas, the package could be used for another MLB franchise that wishes to relocate, or an expansion team.
Late last month, the Athletics released renderings of the proposed 30,000-seat ballpark, which would sit on the current site of the Tropicana Las Vegas hotel. As part of the stadium deal, the Tropicana would be demolished, and the new A's ballpark as well as a new hotel and casino would be built.
A's ownership has indicated it hopes to move into a new Las Vegas ballpark by 2027. The team's lease at RingCentral Coliseum in Oakland expires after the 2024 season, and the A's would need to find a home for the 2025 and 2026 seasons.
The Athletics own baseball's second-worst record (19-52) and worst run differential (minus-196).
The NFL's Raiders moved from Oakland to Las Vegas in 2020, while the NHL's Vegas Golden Knights joined the league as an expansion team in 2017.
