The Athletics now have detailed financing plans for their new Las Vegas ballpark.
Mick Akers of the Las Vegas Review-Journal reported Thursday that A's executive Sandy Dean told the Las Vegas Stadium Authority the team will show at a Dec. 5 meeting how the $1.5 billion stadium on the old Tropicana site will be funded.
Per four letters supplied by Dean, A's owner John Fisher and his family are prepared to give the bulk of the money -- up to $1 billion -- through an equity contribution. Additional funding will come via a $300 million loan from U.S. Bank and Goldman Sachs, and up to $380 million will be paid by the state of Nevada.
Stay in the game with the latest updates on your beloved Bay Area and California sports teams! Sign up here for our All Access Daily newsletter.
Akers also reported that updated lease details for the stadium, with an initial 30-year term, were presented Thursday. Upon expiration, the A's can continue to sign lease extensions for up to 99 years.
Akers also outlined what would happen if the A’s eventually move on from the stadium after their lease expires. If fewer than 150,000 yearly tickets are sold to other events, the A's would be required to transfer land ownership back to Bally’s and Gaming & Leisure Properties Inc., and the team must demolish the ballpark.
After a series of failed negotiations with the city of Oakland, Fisher announced earlier this year that the A's would leave the Coliseum after the 2024 season to play at Dignity Health Park in West Sacramento in 2025, 2026 and 2027 while the Las Vegas ballpark is built.
While some initially expressed skepticism about the ballpark funding, these latest details suggest the money to make the project a reality is there. The new ballpark is projected to open in time for the 2028 MLB season.