UPDATE (AP): Nevada Gov. Joe Lombardo signed into law Thursday a $380 million public financing package to help build a Major League Baseball stadium for the Oakland Athletics on the Las Vegas Strip as MLB’s commissioner outlined a months-long approval process for the A’s proposed move there.
The first-term Republican governor and former sheriff in Las Vegas said he was excited to sign the measure the Democrat-controlled Legislature approved Wednesday night after a seven-day long special session.
“This is an incredible opportunity to bring the A’s to Nevada,” Lombardo said in a statement from Carson City.
The $1.5 billion stadium with a retractable roof is planned near the homes of the NFL’s Vegas Raiders, who fled Oakland in 2020, and the NHL’s Golden Knights, who won the Stanley Cup this week in just their sixth season.
“This legislation reflects months of negotiations between the team, the state, the county, and the league,” Lombardo said. “Las Vegas’ position as a global sports destination is only growing, and Major League Baseball is another tremendous asset for the city.”
Baseball Commissioner Rob Manfred outlined the review process of the A’s proposed relocation during a news conference hours earlier at a meeting of owners in New York. With a capacity of 30,000, the stadium would be MLB’s smallest.
Manfred said the team must submit a relocation application explaining its efforts in Oakland and why Las Vegas is a better market. A relocation committee will define the new operating territory and television territory. It will then make a recommendation to Manfred and the eight-man executive council. The executive council formulates a recommendation to all clubs, which must approve the move by at least three-quarters vote.
The team said in a statement late Thursday the Nevada governor’s signing of the funding package was “a significant step forward in securing a new home for the Athletics.”
“We will now begin the process with MLB to apply for relocation to Las Vegas,” the statement said. “We are excited about Southern Nevada’s dynamic and vibrant professional sports scene, and we look forward to becoming a valued community member through jobs, economic development, and the quality of life and civic pride of a Major League Baseball team.”
ORIGINAL REPORT (KNPR): Nevada lawmakers have finalized a deal with the Oakland Athletics to move the baseball team to Las Vegas. The team will get $380 million in public assistance to build a new stadium along the Strip.
The final version of Senate Bill 1 looks much like the original drafted by the A's organization and the Lombardo administration during the regular session, which ended last week.
Overall, the team will receive $380 million in public assistance, with $180 million coming from the state and the rest financed by Clark County.
To get the money, the A's organization has agreed to spend at least $2 million a year on a community benefits agreement that includes investments in education programs, youth baseball and guarantees to hire a diverse workforce and pay a living wage.
Speaker of the Assembly Steve Yeager said it's likely one of the best community benefits packages in the country.
"We've gotten a commitment that there's going to actually be an investment in the community, and, in my mind, that that makes a difference. Is there a risk? Of course, yes. There's always risk involved, but I think in looking at this deal, at least for me, the risk is worth it. I'm hopeful that we're going to bring a team here that's going to win and it's just going to add to that sports and entertainment capital of the world in Las Vegas."
But for Assemblywoman Shondra Summers-Armstrong of Las Vegas, the state could better use the money elsewhere.
"Those dollars are intended if you look at the, at the ones that were gonna be captured for community use for homelessness and education and those things. I had trepidations about capturing and gathering those taxes for 30 years."
The passage of SB1 clears a significant hurdle on the team's quest to build a $1.5 billion stadium on the site of the Tropicana.
Before construction begins, the team must sign an official development agreement, a lease agreement and a 30-year non-relocation agreement with the Las Vegas Stadium Authority. The team must also pay the first $100 million in development costs for the ballpark before their eligible for the public money.
The bill now heads to Lombardo, who should sign it during a ceremony with lawmakers in the coming days. Major League Baseball is also expected to approve the move.
The Oakland Athletics released the following statement:
"Tonight, we thank the members of the Nevada State Legislature and their staff for their hard work, due diligence, and attention to detail as we work to bring the Athletics to Las Vegas. We are especially grateful for the legislators’ time and dedication to shepherding this bill through the process, including the special session. We look forward to Governor Lombardo’s signature as our next step."
