Las Vegas Moves Closer to Approving A's Stadium

Las Vegas Convention and Visitors Authority President and CEO Steve Hill expressed optimism regarding the upcoming approval of three essential documents for the construction of a new stadium for the Oakland Athletics. Speaking after a Las Vegas Stadium Authority board meeting, Hill stated that the documents, which include lease, non-relocation, and development agreements, are expected to be approved on December 5. The proposed $1.5 billion, 33,000-seat domed stadium is set to be located on the Las Vegas Strip. The lease agreement would provide an initial 30-year term, with the potential for extension up to 99 years, a significant difference from the NFL's Las Vegas Raiders, who have a fixed 30-year lease. Hill noted that the flexibility in the lease terms was not fully anticipated when the law was passed in 2016, but it allows for future negotiations as the lease approaches its midpoint. The Athletics aim to have their new ballpark ready for the 2028 season. As the A's conclude their final season in Oakland, they have secured a temporary arrangement to play the next three seasons, with an option for a fourth, at a Triple-A stadium in West Sacramento, California. This facility will be shared with the River Cats, the San Francisco Giants’ Triple-A affiliate. The Athletics plan to finance $300 million of the stadium's cost, with the remaining $850 million sourced from private equity, and Hill indicated that a detailed financing plan could be presented at the upcoming October meeting.