The Athletics are continuing to pursue their potential relocation to Las Vegas and will likely be filing their funding bill with the Nevada Legislature in the coming week, per Mick Akers of the Las Vegas Review-Journal, who adds that there will be enough time to get the deal done during the current legislative session.
The timing is significant on a couple of fronts. The current Nevada legislative session adjourns on June 5 and there’s no even year session, meaning there won’t be another chance for the A’s to file until early 2025, after the 2024 election. Under the terms of the recent collective bargaining agreement between Major League Baseball and the MLBPA, the Athletics have until January 15 of 2024 to sign a contract for the construction of a new facility in order to retain their status as revenue sharing recipients.
It was reported last month that the club had agreed to purchase 49 acres of land west of the Las Vegas Strip, though a later report indicated the club had pivoted to the site of the Tropicana hotel on the Strip. That hotel is owned by Bally’s Corporation, on land leased from Gaming and Leisure Properties Inc. The former plan would have involved asking for $500M in county-issue bonds but the latter plan involves a lesser ask of $395M.
Akers’ report provides some details on the latter plan, indicating that Bally’s and Gaming and Leisure Properties Inc. will be giving nine acres of the land to the A’s. Akers speaks with Bally’s Corp. Chairman Soo Kim in the piece, who estimates that land on the Strip is worth about $20M per acre, making the total value of that land around $180M. Once the 30,000-seat stadium with retractable roof is completed, the A’s would contribute the land to the Las Vegas Stadium Authority, following a similar path to the Raiders and Allegiant Stadium. Bally’s has plans to build a new hotel-casino on the remaining portion of the land once the stadium is completed, though it’s still being determined if the Tropicana would shutter completely during construction or stay open as the work is done in phases.
The A’s currently have about three weeks to submit their proposal and get it approved before the legislative session is done. Whether they will succeed in that regard remains to be seen.
