The Clark County Stadium Authority Board unanimously approved the final agreements to bring Major League Baseball to Las Vegas.
Among the items up for Board approval on Dec. 5th were a non-relocation agreement, which commits the team to play in the stadium for 30 years; the baseball stadium lease, also 30 years; and the development agreement for financing and developing the stadium.
The Board also found that John Fisher and the Fisher family, owners of the A’s, have the financing in place to complete the $1.75 billion enclosed stadium. The planned stadium will seat 30,000 and have standing areas for an additional 3,000.
The cost of the new stadium includes an increase of $250 million from the initial estimate, due to additional planned amenities from the park and increasing construction costs. In his presentation to the Board, A’s representative Sandy Dean listed enhancements to the stadium that would include individual under-seat cooling and modifying the stadium’s lower bowl “to bring fans closer to the field.”
A's owner John Fisher has raised his contribution to up to $1.1 billion, with an additional $300 million jointly pledged by U.S. Bank and Goldman Sachs. Nevada and Clark County will contribute up to $380 million toward the stadium. Public financing won’t begin until Fisher has spent at least $100 million.
The final vote approved that the Board would notify Clark County that the Stadium Authority has performed the necessary tasks to create the Sports and Entertainment Improvement District, which will fund the public contribution to the baseball stadium.
“Today’s a real milestone,” said Stadium Authority Board chairman Steve Hill. The approval, he said, “will lead to many years of Major League Baseball and some pretty fantastic events at a new ballpark on this iconic corner in Las Vegas.
The final details to work out include a development agreement with Clark County, officials anticipate the groundbreaking will take place in the spring of 2025 for a planned opening for the 2028 season.
