The Oakland Athletics owner and his family have announced a significant investment of $1 billion towards the construction of a new stadium in Las Vegas. This project will also receive financial support from U.S. Bank and Goldman Sachs, who will provide a $300 million loan for the development.
During a meeting with the Las Vegas Stadium Authority board, it was revealed that detailed plans for the construction and financing of the $1.5 billion, 33,000-seat domed ballpark will be presented at the upcoming authority meeting on December 5. Final approvals are anticipated to be granted at that meeting, paving the way for the commencement of construction.
The stadium is slated to be built on the Las Vegas Strip, occupying the former site of the Tropicana hotel which was recently demolished. A substantial portion of the funding, amounting to $380 million, will come from public sources to support the stadium's construction.
The timeline for the project indicates that construction is set to begin in the spring, with a target to complete the stadium before the start of the 2028 season. In the meantime, the Oakland Athletics will continue to play their home games in West Sacramento, California for at least the next three seasons.
This move comes after the Athletics concluded their final season in Oakland, California this year, marking the end of a 57-season tenure in the city. The team's relocation to Las Vegas signifies a new chapter for the franchise, with hopes of establishing a strong presence in their new home.
For more updates on this development and other MLB news, visit the official MLB website.
