June 8, 2023
What would life be without drama? Things had been running so smoothly, and plans for a Las Vegas MLB franchise were rolling along… until now. The funding for a new stadium via Senate Bill 509 failed to pass a vote before the end of the session. And that means a special session has been called to reconsider options.
Hope for a billion dollar ballpark where the Tropicana now stands is in limbo, for now. Even if the A’s stadium bill is passed during the special session, any relocation of the team still requires approval from League Owners. Plus, the franchise must demonstrate its ability to finance the remainder of the $1.5 billion needed to build any Las Vegas MLB stadium.
Proposed public funding involves $180 million in transferable tax credits from the state, with $90 million expected to be repaid through a sports entertainment improvement district established around the 9-acre stadium site. Clark County would contribute $145 million, with $120 million to be repaid through revenue generated by the tax district and $25 million allocated for infrastructure improvements.
Still, even if everything comes together financially to build a Las Vegas MLB stadium, the team owners will most likely not vote on any potential move in the near future. Rather, the speculation is that they will take up the matter over Zoom call at a later date. So, there appears to be no sense of urgency.
Since April, the Oakland Athletics have had their focus has been on securing a stadium deal in Las Vegas. The team has signed a binding purchase agreement for a potential ballpark site owned by Red Rock Resorts, but the devil is in the details.
Related Stories:
