Twist of Fate: Oakland Athletics Exec Reveals Plan to Decline $30 Million Public Funds to Las Vegas Officials.
Sandy Dean, an executive with the Oakland Athletics, informed the Las Vegas Stadium Authority on Thursday that the team does not plan to utilize the entire $380 million in public funding allocated for their new stadium in Las Vegas.
Dean revealed that the A’s will use $350 million of the allocated funds, leaving $30 million unspent. Additionally, the team is seeking $300 million in financing for the project, although they have not yet secured any lenders.
“We’ve received strong interest from several companies wanting to participate in this aspect of the project,” Dean said.
The remaining $850 million needed for the $1.5 billion stadium will come from private equity. The A’s have enlisted New York-based Galatioto Sports Partners to help find investors.
During the board meeting, there was discussion about a 30-year non-relocation agreement, but no decision was made. The A’s also requested permission to relocate up to seven games over two years to international venues or special U.S. locations, such as the Field of Dreams in Iowa, with a limit of four games per year outside of Las Vegas.
The A’s aim to have the 33,000-seat stadium ready for the 2028 season. They detailed their financing plans to complement the public funding approved by the Nevada Legislature last June and signed by Governor Joe Lombardo.
After the meeting, Dean and Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, confirmed that financing arrangements are being finalized. Dean noted that the Fisher family could provide all the equity needed for the project.
Hill mentioned that the lease agreement would be discussed at the August 15 stadium authority meeting, but a vote on the construction documents is not expected until December 19. He expressed confidence in meeting the construction timeline, citing the town’s strong track record with major projects.
The stadium authority is following a similar plan to the one used for Allegiant Stadium’s 2020 opening, which included personal seat licenses (PSLs) that also offered fans access to other events like concerts. While the A’s will also offer PSLs, they have not yet decided on their availability.
Dean noted that although PSLs for the A’s will be available, the approach may differ from the Raiders’ successful PSL model, given baseball’s larger number of games compared to football.
The new stadium will offer views of the Strip’s MGM Grand and New York-New York resorts. This season marks the A’s final year in Oakland, with plans to play the next three seasons, plus an option for a fourth, at a Triple-A stadium in West Sacramento, California, shared with the River Cats.
