The Nevada Legislature has introduced a bill that could give the Oakland Athletics up to $380 million for a potential $1.5 billion retractable-roof stadium on the Las Vegas Strip. The majority of public funding will come from $180 million in transferable tax credits from the state and $120 million in county bonds, which can vary based on interest rate returns. Clark County will also contribute $25 million in credit towards infrastructure costs. The Athletics have been searching for a new home to replace the Oakland Coliseum, where the team has played since arriving from Kansas City for the 1968 season.
Details of the deal
The Athletics have agreed to use land on the southern end of the Las Vegas Strip, where the Tropicana Las Vegas casino resort sits. Las Vegas would be the fourth home for a franchise that started as and remained the Philadelphia Athletics from 1901 to 1954. It would become the smallest TV market in Major League Baseball and the smallest market to be home to three major men’s professional sports franchises. The team and Las Vegas are hoping to draw from the nearly 40 million tourists who visit the city annually to help fill the stadium. The 30,000-seat capacity would make it the smallest MLB stadium.
Uncertainty in the Nevada Legislature
The plan in the Nevada Legislature would not directly raise taxes and can move forward with a simple majority vote in the Senate and the Assembly. Lawmakers have a little more than a week to consider the proposal before they adjourn on June 5, although it could be voted on if a special session is called. However, the plan faces an uncertain path in the Nevada Legislature. Democratic leaders said financing bills, including for the Athletics, may not go through if Republican Governor Joe Lombardo vetoes the five budget bills, which he has threatened to do as many of his priorities have stalled or faded in the Democratic-controlled Legislature.
Under the bill, the Clark County board of commissioners would create a homelessness prevention and assistance fund along the stadium’s area in coordination with MLB and the Nevada Resort Association. There, they would manage funds for services, including emergency rental and utility assistance, job training, rehabilitation and counseling services for people experiencing or at risk of homelessness. The lease agreement with the Las Vegas Stadium Authority would be up for renewal after 30 years.
The Athletics have been searching for a new home for a long time, and the proposal for a stadium on the Las Vegas Strip could be the solution. However, the plan faces obstacles in the Nevada Legislature, and the uncertainty surrounding it makes it difficult to determine whether it will be successful. Nevertheless, the proposed stadium could be an exciting addition to Las Vegas and bring more attention to the city as a destination for sports fans.
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