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Post by mikecubs on May 24, 2023 14:25:31 GMT -6
Oakland, government bodies reach tentative deal on new A’s ballpark public fundingby Kevin Reichard on May 24, 2023 in Major-League Baseball Oakland A'sThe Oakland Athletics ownership, state officials and Clark County commissioners have reached a tentative deal on new A’s ballpark public funding plan at a lower dollar figure than originally pitched by the team. UPDATED! The terms of the deal are largely along the lines proposed by the state and Clark County in recent days. The A’s had pitched a $1.5-billion, retractable roof ballpark at the current Tropicana resort site on the Las Vegas Strip. The team and Bally’s announced a “binding agreement” to tear down the historic resort and replace it with a $1.5-billion, retractable roof ballpark with a capacity of 30,000, with a public ask of $395 million via Clark County bonding and state tax credits. After state and Clark County officials reviewed the request, they came back with a smaller offer, per the Nevada Independent: As the deal stands now, sources with knowledge of the discussions indicated the state will contribute $180 million in transferable tax credits, of which 50 percent would be refundable — meaning the franchise or another entity that purchases the credits from the team can trade any excess credits for cash from the state. Clark County would issue $120 million in bonds (an amount that could change depending on interest rates), a 30-year property tax exemption and a $25 million credit allocated toward infrastructure costs associated with the development agreement.
A source close to the negotiations estimated that the 30-year property tax exemption could be equivalent to almost $55 million over that time period, potentially bringing the total public financing package up to $380 million.
Clark County had balked at a higher figure for the bonding, with commissioners concerned they would have to dip into general revenue funds to cover any bonding shortfalls. However, with the lower figure and a new schedule, a fund set up to back the bonds will be accruing funds for two years before construction begins. The deal was announced this morning in a press release from Nevada Gov. Joe Lombardo: “This agreement follows months of negotiations between the state, the county, and the A’s, and I believe it gives us a tremendous opportunity to continue building on the professional sports infrastructure of southern Nevada. Las Vegas is clearly a sports town, and Major League Baseball should be a part of it.” If the team moves, it will become the first MLB to play in four markets; the Athletics began life in Philadelphia before moving to Kansas City and then Oakland. The Las Vegas MSA is a midsized U.S. MSA (#29) at 2,322,985, slightly larger than Cincinnati, but other rankings, such as Nielsen numbers, have it at the #40 U.S. sports market based on households. The deal is still tentative, with plenty of steps needed to be reached before design starts and shovels hit the ground. Legislation encompassing the new terms still needs to be introduced to the Nevada Legislature, which adjourns on June 5. The Nevada Legislature meets only every two years, so the June 5 figure looms, though a special session could be called if the June 5 deadline is missed. If approved by the Legislature, a bonding bill needs to be approved by Clark County. MLB’s Relocation Committee will need to sign off on the deal before the end of the year. And at some point the Federal Aviation Administration will need to weigh in on the plans given the ballpark’s proximity to Harry Reid International Airport. But given that a tower already exists at the Tropicana site, approval is expected. If all this happens, a groundbreaking could happen in 2024 and a ballpark opening in 2027. ballparkdigest.com/2023/05/24/oakland-government-bodies-reach-tentative-deal-on-new-as-ballpark-public-funding/
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Post by mikecubs on May 26, 2023 13:14:37 GMT -6
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Post by mikecubs on May 30, 2023 1:19:38 GMT -6
They had a hearing Monday for the stadium in Las Vegas. It was revealed that if approved the stadium won't open until 2028 because of the time to demolish the Tropicana Hotel. So that would leave 4 seasons playing in Oakland or a temp stadium.
Also they said the team is expecting to average 28,000 per game instead of 30,000 which is more realistic. They expect the missing 2,000 fans to be made up by other events.
There's no way 28,000 will happen either unless casinos buy a ton of tickets for visiting fans.
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Post by mikecubs on Jun 6, 2023 8:08:27 GMT -6
Nevada legislative session ends without vote on A's stadium billA plan to help build a stadium for the Oakland Athletics in Las Vegas is in flux after Nevada lawmakers adjourned their four-month legislative session. The future of the contentious bill is now uncertain after the Legislature did not advance it before the midnight deadline as Monday turned to Tuesday. The proposal could potentially be considered in a special legislative session at a date to be determined later, where lawmakers would later vote on it.Lawmakers also failed to pass one of the five major budget bills that included over $1 billion to fund capital improvement projects that fund state public works and construction, which would also likely be considered for a special session. In a statement overnight, Republican Gov. Joe Lombardo said he would call a special session later Tuesday morning, where he would set the agenda for legislative priorities. Now, the timeline is murky for a bill that has revived the national debate over public funding for private sports stadiums -- a measure that could add to Las Vegas' growing sports scene amid concerns and skepticism among economists about minimal benefits for a hefty public price tag. The A's reached an agreement with Bally's and Gaming & Leisure Properties to build a potential stadium along the Las Vegas Strip last month. A's president Dave Kaval has said he hopes to break ground next year and open in time for the 2027 season. The Athletics have a lease at Oakland Coliseum through 2024 and could play the 2025 and '26 seasons at Las Vegas Ballpark, home to their Triple-A affiliate. MLB commissioner Rob Manfred has said a vote on the A's move to Las Vegas could take place when owners meet June 13-15 in New York. The bulk of the public funding for the $1.5 billion retractable roof stadium would come from $380 million in public assistance, partly through $180 million in transferable tax credits and $120 million in county bonds -- taxpayer-backed loans to help finance projects and a special tax district around the stadium. Backers have pledged the district will generate enough money to pay off those bonds and interest. The A's would not owe property taxes for the publicly owned stadium and Clark County, which includes Las Vegas, also would contribute $25 million in credit toward infrastructure costs. The A's had been looking for a new home for years to replace the outdated and run-down Oakland Coliseum, where the team has played since arriving from Kansas City for the 1968 season. It is averaging less than 9,500 fans at home this season, by far the lowest among the 30 teams. The team had been in negotiations with the city of Oakland to build a stadium on the waterfront but switched the focus entirely to Las Vegas in April. www.espn.com/mlb/story/_/id/37805021/nevada-legislative-session-ends-vote-stadium-bill
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Post by mikecubs on Jun 13, 2023 17:47:47 GMT -6
Nevada Senate passes $380M bill to fund new A's stadium in Las VegasThe Nevada state Senate passed a $380 million bill Tuesday to help fund a new stadium for the Oakland A's in Las Vegas, the first step toward the expected move of the franchise. After days of questioning from lawmakers about the wisdom of using public tax dollars to support a team owned by billionaire John Fisher, two amendments to the bill added Tuesday morning prompted a 13-8 vote in favor of the project. While multiple steps remain to finalize the A's move, the passage of Senate Bill 1 -- in a special session called by Gov. Joe Lombardo, a proponent of Las Vegas adding a baseball team to the NHL's Golden Knights and NFL's Raiders -- paves the way for it to happen. If the 42-person Nevada Assembly approves it by a majority vote and Lombardo signs the bill into law, MLB owners plan to authorize the A's to relocate and end the team's half-century-plus-long tenure in Oakland.The passage of the Senate bill comes on the same day A's fans planned a so-called "reverse boycott," in which they would show up to the moribund Oakland Coliseum wearing shirts that say "SELL" and encourage Fisher to unload the team rather than move it. A's fans have abandoned the team this season after a Fisher-forced fire sale led to a depleted roster and the worst record in baseball at 18-50. Instead of a potential expansion team, Las Vegas would inherit the A's, who have proposed a 30,000-seat stadium -- the smallest in MLB -- on a nine-acre plot at the site of the Tropicana Hotel on the Las Vegas Strip. The original bill did not include specifics on the stadium site, which changed after the A's announced in April they'd had a "binding agreement" for a larger parcel of land. By making their intention to move to Las Vegas public, the A's sought to end more than 20 years of uncertainty. Failed moves to San Jose and Fremont, Calif., left them pursuing a new stadium in Oakland for the past decade. While there was momentum on a waterfront project at the Howard Terminal site -- Oakland Mayor Sheng Thao told ABC7 in the Bay Area that "we are very close to a deal" if Fisher were to sell the team -- he instead continued to pursue the $1.5 billion stadium in Las Vegas. After the original bill met resistance from officials, Senators met with A's officials and received improvements, including the use of a suite at the stadium for community groups, an annual $1.5 million donation to the community and resources toward helping homelessness in Las Vegas.Additionally, two other measures that had been vetoed by Lombardo -- providing 12 weeks of paid family and medical leave for certain businesses and forcing monorail projects to comply with the state's wage laws -- were tied into the bill. www.espn.com/mlb/story/_/id/37848657/nevada-senate-passes-380m-bill-fund-new-stadium-las-vegas
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Post by mikecubs on Jun 13, 2023 18:45:52 GMT -6
I saw some talk from the Vegas politicians about the A's possible playing some games in Reno while the stadium is being built.
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Post by mikecubs on Jun 14, 2023 20:51:03 GMT -6
Athletics stadium deal wins final legislative approval in NevadaThe Oakland Athletics cleared a major hurdle for their planned relocation to Las Vegas after the Nevada Legislature gave final approval on Wednesday to public funding for a portion of a proposed $1.5 billion stadium with a retractable roof. The deal that backers said will continue to help establish Las Vegas as the "entertainment and sports capital of the world" still needs the governor's signature, and MLB still must approve the A's move to the Las Vegas Strip, but both are anticipated. The Assembly approved the final version of the bill with $380 million in taxpayer money on a 25-15 vote after making minor changes to the measure the Senate approved on a 13-8 vote Tuesday just hours before the Vegas Golden Knights won the Stanley Cup.
The Senate accepted the changes with no debate on a voice vote Wednesday night and sent it to the governor's desk as an "emergency measure" adopted during the special legislative session that convened with Democratic majorities in both houses June 7. Republican Gov. Joe Lombardo had proposed the stadium spending plan.The $380 million in public funding would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium - that would be the smallest in Major League Baseball - would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes. The Nevada plan had revived the national debate over public funding for private sports clubs. A's representatives and some Nevada tourism officials have said the measure could add to Las Vegas' growing sports scene and act as an economic engine. But a growing chorus of economists and some lawmakers have warned that such a project would bring minimal benefits when compared to the hefty public price tag. Assemblywoman Selena La Rue Hatch, D-Reno, said Wednesday night she couldn't support the public financing given a lack of funding for Nevada's overcrowded classrooms, inadequate child care services and "people sleeping on the streets." "No amount of amendments are going to change the fact we are giving millions of public dollars to a billionaire," she said. Under the deal approved Wednesday, the A's would not owe property taxes for the publicly owned stadium. Clark County, which includes Las Vegas, would also contribute $25 million in credit toward infrastructure costs. The final version of the bill shifted some money that had been targeted for homeless programs to funds for low-income housing. The Legislature's vote is a victory in the A's troubled search to replace Oakland Coliseum, where the team has played since arriving from Kansas City for the 1968 season. The team previously sought to build a stadium in Fremont, California, as well as San Jose and finally the Oakland waterfront - all ideas that never materialized. The new 30,000-seat baseball stadium is planned along the Las Vegas Strip not far from the Knights' T-Mobile Arena and another stadium that's home to the NFL's Las Vegas Raiders. A last-minute bill in Nevada's 2016 special session paved the way for $750 million in public funding from hotel room taxes for the Raiders $2 billion Allegiant Stadium. No public money was spent on the arena for the expansion hockey team. In places like Buffalo and Oakland, proponents of new stadiums have argued tax incentives prevent the departure of decades-old businesses. But the debate in Nevada differed. The state already heavily relies on entertainment and tourism to power its economy, and lawmakers or appointed boards for years have talked about diversifying the economy to justify incentives to businesses including Tesla. Assemblywoman Shea Backus, D-Las Vegas, said Wednesday night the amount of public money for the baseball stadium is less than what was spent on the Raiders' stadium, which she said has exceeded expectations in terms of increased tourism dollars. In addition to creating 14,000 construction jobs and permanent jobs at prevailing wages subject to collective bargaining, she said the presence of major league baseball in Las Vegas will build on the excitement surrounding the Raiders, the Golden Knights and the WNBA's Aces in a city that had no major professional sports before 2016. "With the Aces winning a national championship last year and the Golden Knights securing the Stanley Cup just last night, it is clear Las Vegas is clearly becoming the entertainment and sports capital of the world," she said. www.espn.com/mlb/story/_/id/37854943/athletics-stadium-deal-wins-final-legislative-approval-nevada
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Post by mikecubs on Jun 16, 2023 0:18:58 GMT -6
Nevada governor signs bill to fund Las Vegas stadium for AthleticsNevada Gov. Joe Lombardo on Thursday signed the bill pledging $380 million in taxpayer money toward a $1.5 billion stadium for the Oakland Athletics to move to Las Vegas, leaving only the approval of Major League Baseball to finalize the first relocation of a franchise in nearly two decades.SB1, the bill passed by the Nevada legislature during a seven-day special session called for by Lombardo to hammer out a financing package, was approved this week by the state Senate and Assembly after the addition of amendments that called upon the A's organization to guarantee $2 million annually to the community, among other small concessions. Lombardo signing the bill was the latest victory for A's owner John Fisher, who over protests from Oakland fans and politicians had focused efforts in recent months on moving the team from its home since 1968. The last MLB team to move was the Montreal Expos, who in 2005 became the Washington Nationals. The A's need the support of the other teams, who are expected to rubber-stamp the move in the coming months without the team needing to pay the standard $1 billion relocation fee after commissioner Rob Manfred said he would waive it as long as the organization received public funding to support its stadium efforts. "I'm excited to officially sign SB1 this afternoon," Lombardo said in a statement. "This is an incredible opportunity to bring the A's to Nevada, and this legislation reflects months of negotiations between the team, the state, the county, and the league. Las Vegas' position as a global sports destination is only growing, and Major League Baseball is another tremendous asset for the city." T he A's, whose lease at the dilapidated Oakland Coliseum runs through 2024, are expected to move at latest in 2025 to Las Vegas, a city that before the NHL's Golden Knights arrived in 2017 didn't have a major professional sports team. The team hopes the proposed stadium, a 30,000-seat retractable-roof building at the site of the Tropicana hotel on the Las Vegas Strip, would be ready by 2028. Until then, the A's would play about 30 minutes west, at their AAA affiliate's 10,000-seat park, before moving into the smallest stadium in MLB. The A's move, initiated by Fisher following more than two decades of failed efforts to build a stadium in the Bay Area, prompted Oakland fans to initiate a so-called reverse boycott Tuesday, in which they drew a season-high 27,759 fans, many of whom spent the game chanting for Fisher to "sell the team." Fisher, an heir to the Gap clothing fortune who bought the team in 2005, declined comment at the quarterly owners' meetings in New York this week. Manfred, who spoke derisively about the fans showing up for the reverse boycott, said: "I feel sorry for the fans in Oakland. I do not like this outcome. I understand why they feel the way they do. I think the real question is what is it that Oakland was prepared to do? There is no Oakland offer. They never got to the point where they had a plan to build a stadium at any site. It's not just John Fisher. ... The community has to provide support, and at some point you come to the realization that it's just not going to happen." Oakland mayor Sheng Thao has said previously that the city had $375 million in commitments toward a new stadium. The desire of Fisher and A's president Dave Kaval to instead pursue a massive, $12 billion development project at Oakland's Howard Terminal site, a spokesperson for the mayor said in a statement, complicated what could have been a straightforward transaction. "There was a very concrete proposal under discussion and Oakland had gone above and beyond to clear hurdles, including securing funding for infrastructure, providing an environmental review and working with other agencies to finalize proposals," the mayor's statement said. "The reality is the A's ownership had insisted on a multibillion-dollar, 55-acre project that included a ballpark, residential, commercial and retail space. In Las Vegas, for whatever reason, they seem satisfied with a 9-acre leased ballpark on leased land. If they had proposed a similar project in Oakland, we feel confident a new ballpark would already be under construction." Over the last two years, as the A's received permission from MLB to pursue relocation, Las Vegas emerged as the favorite to land its third major men's team, after the Knights and the NFL's Raiders, who also moved from Oakland. Over the last five years, all of Oakland's pro sports teams -- the A's, Raiders and the NBA's Warriors -- have moved out of the city. " We will now begin the process with MLB to apply for relocation to Las Vegas," the A's said in a statement. "We are excited about Southern Nevada's dynamic and vibrant professional sports scene, and we look forward to becoming a valued community member through jobs, economic development, and the quality of life and civic pride of a Major League Baseball team."The A's have spent most of the season as the worst team in MLB. Fisher forced the trades of key Oakland players, and after going 60-102 last season, they're on pace to finish a historically bad 43-119 this season. www.espn.com/mlb/story/_/id/37860762/nevada-governor-signs-bill-fund-las-vegas-stadium-athletics
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Post by wolfmannick on Jun 16, 2023 14:31:36 GMT -6
Goodbye oakland
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Post by mikecubs on Jun 16, 2023 19:28:47 GMT -6
It looks like that but former Marlins president David Samson thinks this is a ruse to get Oakland to pay more for infrastructure at Howard Terminal and that the league wants to save Vegas for expansion. Not based on any knowledge but just gut feeling I think A's owner John Fisher will get the Vegas expansion team with Joe Lacob buying the A's.
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Post by mikecubs on Jun 21, 2023 0:06:57 GMT -6
an interview with David Samson on how he doesn't think the A's are leaving for Las Vegas and Vegas will be for an expansion team. Also an interesting view on how professional sports work including how when he threatened to more the Marlins Bud Selig told him he couldn't move the Marlins but they did that to get public funding for the Marlins park
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Post by mikecubs on Mar 5, 2024 20:37:49 GMT -6
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Post by 2b9 on Mar 7, 2024 19:58:31 GMT -6
Yep, it’s cool👍. Cheers, 2b9😉😃👍
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Post by 2b9 on Mar 7, 2024 20:00:09 GMT -6
an interview with David Samson on how he doesn't think the A's are leaving for Las Vegas and Vegas will be for an expansion team. Also an interesting view on how professional sports work including how when he threatened to more the Marlins Bud Selig told him he couldn't move the Marlins but they did that to get public funding for the Marlins park Sports Politics😉. Cheers, 2b9😉😃👍
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Post by 2b9 on Mar 7, 2024 20:02:30 GMT -6
It looks like that but former Marlins president David Samson thinks this is a ruse to get Oakland to pay more for infrastructure at Howard Terminal and that the league wants to save Vegas for expansion. Not based on any knowledge but just gut feeling I think A's owner John Fisher will get the Vegas expansion team with Joe Lacob buying the A's. Interesting, we shall see what happens, which hostage taker wins. Cheers, 2b9😉😃👍
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