Nevada Republican Governor Joe Lombardo announced Wednesday a tentative agreement between his office, legislative leaders in the state and Oakland athletics for a stadium funding plan after weeks of negotiations over how much public assistance the state will contribute to a $1.5 billion ballpark in Las Vegas, according to a joint statement.
The tentative agreement sees a funding bill be introduced in the Nevada Legislature in the coming days with less than two weeks to go before the legislative session ends. It still needs approval from both the Senate and the state Congress.
The threat of a special legislative session looms if lawmakers cannot agree on the bill by the end of the regular session on June 5. Financing is also uncertain.
The announcement was made after Oakland Athletics agreed to use landed at the southern end of the Las Vegas Strip home to the Tropicana Las Vegas casino resort — a pivot from an earlier deal for a nearby stadium that came with a $500 million price tag that many lawmakers deemed too high.
Wednesday’s statement did not specify the amount of public assistance, although Nevada Treasurer Zach Conine said the public-private partnership would reduce the risk to Nevada taxpayers. Public assistance will cover 25% less of the total cost of the stadium, according to the press release.
The governor’s office and Senate Democrats declined to provide details about the request for public assistance. Conine and A’s representatives did not return messages looking for specific numbers.
Democratic State Assembly Speaker Steve Yeager said legislative leadership is considering the proposal.
“No commitments will be made until we have both formally evaluated the proposal and received input from interested parties, including affected community members,” Yeager said in a statement.
The As have been looking for a home for years to replace the Oakland Arena, where the team has played since arriving from Kansas City for the 1968 season. They sought to build a stadium in Fremont and San Jose before turning his attention to the banks of the Oakland River.
Las Vegas will be the fourth home for the franchise that began as the Philadelphia Athletics from 1901-54. It will become the smallest TV market in Major League Baseball and the smallest market home to the three major professional sports brands. The team and the city are hoping to attract nearly 40 million tourists who visit Las Vegas annually to help fill the stadium.
Earlier this month, A reached an agreement with Culinary Union, Nevada’s largest politically powerful union representing more than 60,000 workers in the Las Vegas area, ensuring that A’s workers have the right to organize and negotiate union contracts.
Associated Press report.
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