People walk by the entrance of the Tropicana Las Vegas, Tuesday, May 16, 2023, in Las Vegas. Nevada Gov. Joe Lombardo announced Wednesday, May 24, 2023, a tentative agreement between his office, legislative leaders in the state and the Oakland Athletics for a baseball stadium funding plan after weeks of negotiations over how much public assistance the state will contribute to a $1.5 billion ballpark in Las Vegas, according to a joint statement. The bill comes on the heels of the Athletics’ purchase of land on the southern end of the Las Vegas Strip where the Tropicana Las Vegas casino resort sits. (AP Photo/John Locher)
The Oakland A’s bid to have their public financing package plan heard in the Nevada Legislature has gone into extra innings and will be discussed Wednesday morning.
Nevada Gov. Joe Lombardo issued a proclamation late Tuesday night calling state officials for a second consecutive special session, this time to discuss a potential $380 million public financing package to help fund a Las Vegas stadium project for the A’s, who are seeking to leave Oakland after 55 years.
The proclamation is here! The measure would be consistent with the provisions of Senate Bill 509 (as introduced in the 82nd regular session of the Nevada Legislature). https://t.co/r002Zo92DU pic.twitter.com/9bpCx1BZ67
— Tabitha Mueller (@tabitha_mueller) June 7, 2023
The A’s hopes for up to $380 million from the state of Nevada appeared to stall when the state legislature adjourned Monday night without considering a bill proposing public financing to help pay for the construction of a new baseball stadium along the Las Vegas Strip, leaving the A’s potential relocation and plans for the proposed $1.5 billion, 30,000-seat ballpark in limbo.
Before Tuesday night’s announcement, it was possible the bill wouldn’t have been considered again until next February, which would have cut off the A’s access to revenue-sharing from Major League Baseball. MLB has told the A’s they must have a stadium deal in place before January 15 to continue to be eligible for revenue-sharing monies.
Oakland Mayor Sheng Thao has said the door isn’t fully shut on the A’s staying in town, though she also has made clear that negotiations are dead for a deal at Howard Terminal, the port site where the team wanted a waterfront ballpark and thousands of housing units.
The A’s lease at the Coliseum through the end of the 2024 season, but a ballpark at the team’s latest proposed site in Las Vegas — on the same lot as the Tropicana hotel — would not be constructed until at least 2027.
The $380 million sought by the A’s is significantly lower than the $750 million Nevada coughed up in 2016 to draw Raiders football away from Oakland.
And after Nevada legislators last month balked at a $500 million funding request for a stadium further down the strip, the A’s scrambled to the Tropicana site — announcing each of the two deals with a tone of finality that stands in stark contrast how things have played out.
The bulk of the public funding for the $1.5 billion retractable roof stadium would come from $380 million in public assistance, partly through $180 million in transferable tax credits and $120 million in county bonds.
Backers have pledged the district will generate enough money to pay off those bonds and interest. If the bill were approved, A’s would owe no property taxes for the publicly owned stadium and Clark County would be expected to contribute only $25 million.
The Associated Press contributed to this report.
Originally published at Laurence Miedema, Shomik Mukherjee