A's say they plan to leave millions in Las Vegas stadium money on the table
LAS VEGAS -- Oakland Athletics executive Sandy Dean told the Las Vegas Stadium Authority on Thursday that the club does not expect to spend the entire $380 million in public money allocated to build a new stadium in Las Vegas.
Dean said the A's plan to spend $350 million of those funds, leaving $30 million on the table. He also told the authority that the club plans to finance $300 million of the stadium cost, but no lenders have been secured.
"We've had strong interest from a number of companies that want to participate in that portion of the project," Dean said.
The other $800 million needed to build the $1.5 billion stadium would come from private equity.
A 30-year non-relocation agreement also was on the agenda for Thursday's board meeting. A's officials have asked for up to seven games over two years that otherwise would be played in Las Vegas to possibly be played internationally or at special U.S. sites such as the Field of Dreams in Iowa. No more than four of those games in a year would be played outside Las Vegas.
The A's hope to open the 33,000-seat ballpark for the 2028 season.
They laid out the financing to supplement the public funding approved by the Democratic-controlled Nevada Legislature in a special session last June and signed by Republican Gov. Joe Lombardo.
The A's have hired New York-based Galatioto Sports Partners to help find investors.
This is the A's final season in Oakland. They agreed to play the following three seasons, with an option for a fourth, in a Triple-A stadium in West Sacramento, California. The A's will share that facility with the River Cats, the San Francisco Giants' Triple-A club.