The Las Vegas Stadium Authority approved crucial documents on Thursday, paving the way for the Oakland Athletics to build a new $1.75 billion stadium on the Strip. The lease and non-relocation agreements cover 30 years, marking a significant milestone in the project.
“We’re grateful to everybody who helped us get here today,” said Sandy Dean, team board member. “It’s really an exciting day for the A’s.” While details such as the development agreement with Clark County still need to be finalized, the Athletics are planning to break ground in the spring and open the stadium by 2028.
The cost of the new stadium has risen due to inflation and added amenities like under-seat cooling systems. The organization aims to manage costs while delivering a world-class stadium. Public financing totals $380 million, with private funding from team owner John Fisher increasing his pledge to $1.1 billion. Financial institutions U.S. Bank and Goldman Sachs have committed $300 million in loans.
The A’s will continue to play at a minor league ballpark in West Sacramento, California, for the next three seasons. The stadium project is expected to be completed in time for the 2028 season.
Source: https://www.espn.com/mlb/story/_/id/42802400/a-clear-last-major-hurdles-175-billion-las-vegas-stadium