Groundbreaking to be Scheduled for Las Vegas MLB Stadium
The Oakland Athletics have progressed in their plans for a new MLB stadium in Las Vegas, as evidenced by the submission of a commercial building permit to Clark County in mid-March. The completion of the stadium is still several years away.
LISTEN TO THIS ARTICLE:According to the Las Vegas Review-Journal, the permit application, filed on Thursday, details plans for foundation and deep utility work, with an estimated value of $45.6 million, according to official county records. This phase of construction is set to commence following the completion of site excavation, for which a separate permit application was submitted last month and is currently under review by county authorities.
Related: Bally's and GLPI Partner with Oakland Athletics for New Ballpark on Las Vegas StripA critical component of the stadium's financing structure involves the Athletics' commitment to invest the initial $100 million of the project's $1.75 billion cost prior to the disbursement of up to $380 million in public funding from Nevada and Clark County. Team officials previously indicated in December that they had already allocated over $50 million towards the stadium development process. The expenditure associated with the foundation and utility work outlined in the recent permit is anticipated to bring the team closer to meeting the $100 million threshold required to unlock the public funds.
The Athletics anticipate initiating construction activities with their own capital, with public funding expected to be integrated into the project at a later stage. Plans released by the team outline a construction timeline that is projected to begin between April and June. The stadium, designed to accommodate 33,000 spectators, will occupy 9 acres of the 35-acre Tropicana site. Bally's Corporation intends to develop an integrated resort on the remaining portion of the property.
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Team Still Looking for Investors
Parallel to the construction preparations, the Athletics are actively engaged in discussions with potential investors to secure $550 million in additional funding for the stadium's development. In exchange for their financial contributions, these investors would acquire equity stakes in the team. The team has indicated that multiple potential investors, both from within Nevada and from external markets, have undergone vetting by MLB.
The Athletics are scheduled to play their first home game at Sutter Health Park in Sacramento on Monday. This venue will serve as their home field for the 2025 through 2027 MLB seasons, during which the Las Vegas stadium is expected to be under construction. The team's temporary relocation to Sacramento is a key part of their transition plan as they prepare for the move to their new permanent home in Nevada.
A public meeting is scheduled for Wednesday, where the Athletics will present their stadium project to the Clark County Commission during a zoning hearing. This meeting will mark the first public discussion between the team and the commission regarding the stadium project.
The MLB franchise and the county are currently working on drafting a development agreement and navigating the entitlement process for the stadium. Key topics to be addressed during the meeting include the Athletics' request for the county to authorize excavation at the Tropicana site prior to the finalization of the development agreement. The team has stated that this request is essential to maintain the project's timeline and ensure that construction proceeds according to schedule.
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