Oakland Athletics Reportedly Resolve Money Issues in Las Vegas Plan
The Oakland Athletics to Las Vegas plan has taken another twist and turn.
The A's and the state of Nevada, as well as Clark County, reportedly have come to a financial agreement on a ballpark site.
After hearing on Monday that the funding and payment was an issue, it's allegedly been resolved.
The MLBTradeRumors article above does a great job of explaining the financial commitment involved:
The agreed-upon deal includes a total of around $380MM in public money heading to the project. That is composed of $180MM from the state in transferable tax credits, with $90MM to be repaid over time from stadium revenues. Then there’s $120-125MM coming from Clark County in the form of bonds and another $25MM for infrastructure improvements. There will also be a 30-year property tax exemption issued by the county, which has an estimated value of $55MM.
The article also correctly says there are still other hoops to go through, but they seem easy enough to get past. The legislature needs to have the plan presented to it, the governor needs to sign off, and Major League Baseball needs to OK it as well.
The Athletics have said the goal is to be playing in Las Vegas by 2027. It's unsure whether or not this ballpark could be ready for play by then, or when exact building would start, but the A's certainly appear serious about making this happen.
At 10-39, the Athletics are the worst team in baseball. They will take on the Mariners tonight at 9:40 p.m. ET.
Follow Fastball on FanNation in social media
Continue to follow our Fastball on FanNation coverage on social media by LIKING us on Facebook and by following us on Twitter @FastballFN.
You can also subscribe to "The Payoff Pitch" podcast on Apple Podcasts and Spotify.
