Second Time's the Charm? A's Reach New Ballpark Agreement in Las Vegas

Plans are contingent on the Nevada Legislature approving a nine-figure tax package to assist with the new stadium's construction, though GLPI has agreed to fund up to $175 million toward"certain shared improvements within the future development in exchange for a commensurate rent increase," the announcement states. MLB also must approve the A's relocation from Oakland to Las Vegas.

"We are honored to have been selected to partner with the Oakland Athletics on this monumental step in helping to bring Major League Baseball to the great city of Las Vegas, and to be a part of the once in a generation opportunity of having a professional baseball team located within a short walk of the Las Vegas Strip," Bally's president George Papanier said.

Bally's estimates the A's new, 30,000-seat ballpark will welcome over 2.5 million fans and visitors annually. The Nevada Independent previously reported, citing a source, the original stadium construction timeline is still in place under the new Bally's agreement, beginning in 2024 with a planned opening date in 2027, which could be pushed to 2028 should the construction timeline change.

While it's isn't quite a done deal yet, the A's now are that much closer to officially leaving Oakland.

Source: Real Estate Daily Report (realestatedailyreport.net)

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