The Oakland Athletics have taken steps to secure $500 million in private funding for their planned Las Vegas ballpark, as reported by Bill Shaikin of the Los Angeles Times. To accomplish this, they have enlisted the services of an investment banking firm. In their financing strategy, the A’s are offering minority ownership shares in the franchise to potential investors, aiming to cover a portion of the estimated $1.5 billion stadium construction costs.
Last summer, Nevada lawmakers approved $380 million in public funding through various means such as state tax credits and bonds, which offset a portion of the project’s expenses. Following this approval, Major League Baseball (MLB) greenlit the A’s relocation efforts. While a political action committee has contested the public funding law through a lawsuit, it does not currently pose a significant threat to the relocation plans.
Despite the secured public funds, the A’s still face a substantial balance of approximately $1.1 billion for construction. Compliance with the public funding law necessitates presenting a detailed financing plan for this remainder. Seeking outside investment of $500 million aligns with the organization’s long-standing strategy of offering ownership stakes to investors. Owner John Fisher has previously expressed openness to selling minority shares to investors in the Las Vegas area, while affirming his family’s intent to retain majority ownership and operational control of the franchise.
The A’s aim to complete construction of their 33,000-seat stadium on the Las Vegas strip by the 2028 season. In the interim, they will spend three years playing at Sacramento’s Sutter Health Park from 2025 to 2027, marking their final season in Oakland before the move.