$180 million funding from state, $120 million from Clark County
LAS VEGAS (KLAS) — Details of an agreement to build a $1.5 billion stadium for the A’s are emerging as work on the deal continues. State Sen. Scott Hammond tells 8NewsNow.com the deal includes:
$180 million in funding from the state, $90 million to be repaid over the next 30 years
$120 million in bonds from Clark County
No location is specified in the deal as it currently stands
Hammond, a Las Vegas Republican, said legislation to make the deal isn’t expected to be introduced until Saturday.
The 30,000-seat stadium is expected to take an estimated 18-24 months to build, and it’s currently planned for the site of the Tropicana Las Vegas Casino Resort.
All eyes have been on the Nevada Legislature since the deal for the Tropicana site was announced last week. Law requires the creation of a special improvement district for stadium funding.
Earlier Wednesday, Gov. Joe Lombardo indicated the deal is being drafted and will be introduced in the coming days.
“This agreement follows months of negotiations between the state, the county, and the A’s, and I believe it gives us a tremendous opportunity to continue building on the professional sports infrastructure of Southern Nevada,” Lombardo said. “Las Vegas is clearly a sports town, and Major League Baseball should be a part of it.”
Excitement over the deal is tempered by the historically bad start to the A’s season — the second-worst start in MLB history, and the third-worst winning percentage ever. The A’s are 10-40 after they were swept by the World Series champion Houston Astros.
Lombardo has stood firm against any tax increases to fund a stadium.
The A’s have announced their plans to build a stadium at the site of the Tropicana, which will be redeveloped.
The 8 News Now Investigators learned that the previous land deal the A’s struck just a couple weeks ago with Station Casinos was killed partly because the Culinary Union wouldn’t support that site. Some of that company’s casinos aren’t unionized.
The A’s could play games at the Las Vegas Ballpark in Summerlin until a stadium is ready.
About 675 days remain until the opening of the 2025 MLB season — a tight window to complete the project. Allegiant Stadium, a bigger project costing $1.9 billion, took about 31 months to complete.
Source: KLAS - 8 News Now
