The public funds that the Oakland Athletics likely thought would be waiting for them in Las Vegas may not surface after all. And the clock is already ticking less than two weeks after the franchise signed a binding purchase agreement for land there.
According to the leader of the Nevada Assembly, the legislature could “run out of time” on a potential deal that would send hundreds of millions of dollars in public money to help construct the Athletics’ future ballpark in Las Vegas. As of Wednesday, the A’s haven’t presented lawmakers with “concrete” language about the proposed structure of public money for a new stadium, per The Nevada Independent.
“If something was going to happen, it really should have been in place last week,” Nevada Assembly Leader Steve Yeager told The Nevada Independent this week.
There are 33 days remaining in the state’s 120-day session, which means there are tight deadlines for such major legislation to find footing.
On April 19, owner John Fisher and the A’s signed a binding agreement and identified a location for a $1.5 billion stadium complex in Las Vegas. With it, the mayor of Oakland ceased negotiating with the organization, with the caveat of a change in ownership.
The A’s are looking for $500 million of that $1.5 billion to be paid for in the form of tax credits and the creation of a special tax district, according to multiple reports.
Bungling this situation in the short-term could have massive ramifications. The sale of land hasn’t been finalized and is contingent on the A’s winning legislative approval for the tax money, per the Nevada Independent. Hence: if approval doesn’t materialize, the A’s could withdraw their agreement from purchasing the stadium site.
John Fisher and A’s ownership has a history of failed moves. Previous attempts to leave the Coliseum include the Laney College plan, San Jose and Fremont hopes, and the most recent Howard Terminal proposal. There have been many hurdles outside of ownership’s control over the years that have prevented the A’s from finding a new home in the Bay Area.
News of the likely Vegas move shocked the baseball industry, with most pundits criticizing A’s ownership for their optical disingenuousness and mistreatment of the fanbase. If the A’s leave, the Bay Area will be left with only the Giants.
“It’s definitely hard for all the fans,” Giants starter Logan Webb, a Rocklin native, said. “Sometimes you’ve just got to upgrade a little bit. It’s not secret the Coliseum is outdated. I saw a possum was living there. I fully understand it, it just kind of stinks that it’s gotten to that point — with all three teams (will) have now left.”
More clarity on the Vegas idea, apparently, should happen imminently. But as of now, the move appears up in the air.
“Probably another week or so is the timeline for that if something’s going to happen, and I’m not really comfortable saying whether or not something is going to happen,” Yeager said. “Because until we know what the proposal is, and what the economic impact might be to the state, it’s just really hard to say whether that’s something we’re going to move or not.”