Tag: Las Vegas Stadium Authority

A’s have financial house in order, ready to come up with $1.75 billion for ballpark construction costs

Published on by Sports Radio ServiceLeave a comment

Las Vegas ballpark rendering. A’s are hoping for completion of stadium in April 2028 opening day. (AP file photo)

By Stephen Ruderman and Jerry Feitelberg

In a meeting Thursday with the Las Vegas Stadium Authority the Sacramento A’s soon to be the Las Vegas A’s in 2028 have come up with the financing of their share of the construction costs to pay for their Tropicana Las Vegas Strip ballpark which should be ready to go opening day 2028.

The Las Vegas Authority is expected to approve a 30 years lease on the A’s non relocation and development that consisted of four documents that should be the last step to clear the way to get shovels in the ground at the intersection of Tropicana and Las Vegas Blvd.

Clark County will continue to discuss a develop agreement otherwise the target to begin groundbreaking in spring 2025. Both Clark County and the State of Nevada are going forward with SB1 public funding for the ballpark at the cost of $380 billion, the A’s say they will spend $350 million to build the 30,000 seat armadillo looking ballpark.

The State of Nevada will not spend the $380 million until the A’s have put in $100 million. So for the A’s have invested $40 million. The deadline to meet the construction costs for the A’s share was due Thursday which they cleared in their meeting with the Stadium Authority.

Sandy Dean an A’s executive whose been a spokesman for owner John Fisher at previous Stadium Authority meetings said that Fisher’s family have increased their construction pledge to $1.1 billion. Dean said that Goldman Sachs and U.S. Bank will loan the A’s $300 million towards the development.

The four documents that Dean presented to the Las Vegas Stadium Authority are: #1 A loan commitment from both banks. #2 Fisher and his family have the ability to meet their financial pledge. #3 The commitments to Athletics StadCo LLC, an entity created to handle the private capital investment. #4 U.S. Bank’s review of the owner’s finances backs up that Fisher has the money in place.

Stephen Ruderman and Jerry Feitelberg cover A’s baseball for http://www.sportsradioservice.com

That’s Amaury News and Commentary podcast: Higashioka signs 2 year $13.5 million deal with Rangers; Cubs sign Boyd for two years, $29 million; plus more news

Published on by Sports Radio ServiceLeave a comment

FILE – Los Angeles Dodgers’ Shohei Ohtani, right, collides with San Diego Padres catcher Kyle Higashioka as he scores on a single by Teoscar Hernández during the fourth inning in Game 1 of baseball’s NL Division Series, on Oct. 5, 2024, in Los Angeles. Higashioka Mark J. Terrill – staff, ASSOCIATED PRESS

On That’s Amaury News and Commentary podcast:

#1 Amaury how big is it that the Texas Rangers signed catcher Kyle Higashioka for two years at $13.5 million with a mutual option for the 2027 season. Higashioka played for the San Diego Padres in 2024 hit .220, with 54 hits, 17 home runs and 45 RBIs.

#2 The Chicago Cubs signed pitcher Matthew Boyd. Boyd will join the Cubs starting rotation. This was the Cubs first big deal in the off season. Boyd who came back from Tommy John surgery was 2-2 with a 2.72 ERA last season. Boyd signs with the Cubs for two years at $29 million. Boyd 33, could earn up to $1 million in performance bonuses.

#3 In a letter to the Tampa Bay Rays from Pinellas County (Fla.) the cost to build a new ballpark would run $1.3 billion in a letter from the county. The Rays presidents Brian Auld and Matt Silverman said in a letter to the county that they would not agree to a deal for the new stadium. The Rays said they have spent more than $50 million on the new stadium but the county had suspended work on the entire project. The park was scheduled to be completed by 2028. The Rays are without a ballpark after Hurricane Milton destroyed the roof of the Tropicana and will play their regular season games at George Steinbrenner Field in Tampa Bay.

#4 Should the Tampa Bay Rays move out of Tampa Bay since the county and the owners can’t come to an agreement and where could they move to Nashville, Montreal, Charlotte, San Antonio, Vancouver or Mexico City?

#5 This coming Thu Dec 5th is the big Las Vegas Stadium Authority meeting regarding the financing for the A’s share of the construction costs for the ballpark at the Tropicana. The A’s said they would present four documents that would outline how the financing would proceed. Dec 5th is the drop dead date to come up with the financing for the Vegas A’s park as the A’s took one year to try and get their financing together. A’s owner John Fisher was reportedly getting financing together from his family to pay the $1.5 billion joined with the State of Nevada’s in put from SB1 at $380 million. Can the A’s make it happen on Thursday?

Amaury Pi Gonzalez does That’s Amaury News and Commentary podcasts Tuesdays at http://www.sportsradioservice.com

A’s relocation podcast with Daniel Dullum: A’s to present four letters showing they have financing for $1.5 billion Vegas ball park Thursday

Published on by Sports Radio ServiceLeave a comment

Artists rendering of Athletics Armadillo ballpark at the corner of Las Vegas Blvd and Tropicana in Las Vegas which is scheduled for completion for April 2028 (from artist A’s rendering)

Sacramento A’s relocation podcast with Daniel:

#1 Daniel, the A’s are making a presentation at the Las Vegas Stadium Authority on the due date Thu Dec 5th when they are supposed to come up with their share of construction costs at the tune of $1.5 billion. The A’s will present four letters showing they have the financing available.

#2 This meeting is a big step for the A’s relocation process in their move to Las Vegas this will be the A’s fourth meeting with the Stadium Authority and noted the most important to date.

#3 Amongst the discussions are how the stadium will be constructed, how many years the team will be committed to the park, and what happens if the A’s want to get out of their deal before the 30 years runs out.

#4 The ballpark plans have the A’s constructing their stadium on nine acres of the 35 acre Tropicana on the Las Vegas strip located at the one of the busiest intersections in the world.

#5 The Stadium Authority will reviewing the documents to decide if they can move forward with the project what they will be looking forward as stated, “adequate financial security for the performance of the financial obligations of a developer partner (A’s) for the development and construction of the Major League Baseball stadium project.”

Join Daniel Dullum for the A’s Relocation podcasts each Sunday at http://www.sportsradioservice.com

Sacramento A’s Relocation podcast with Daniel Dullum: Fisher Family finally regroups on construction cost realizing big returns on Vegas investment

Published on by Sports Radio ServiceLeave a comment

Proposed Las Vegas A’s ballpark rendering is scheduled to be completed by opening day 2028 at Tropicana and Las Vegas Blvd on the Vegas Strip. (renderings from the Sacramento A’s)

On the Sacramento A’s Relocation podcast with Daniel:

#1 This week it was reported the A’s will pay $1 billion into their Las Vegas ballpark on the Las Vegas Strip at the old Tropicana site. Golden Sachs and US Bank also are contributing another $300 million in loan money towards the project. The $1 billion from the A’s is funded from owner John Fisher and his family.

#2 Fisher had tried to find investors to buy minority portions of A’s ownerships and tried to find local investors in Las Vegas as well going on a good portion of the year since December 2024 when the MLB owners approved the move to Vegas to find minority investors. Not having success in finding partners Fisher has teamed up with his family to pay the $1 billion.

#3 With the rising appreciation of Major League teams who have their own park and amenities Fisher convinced his family that this would be an investment that will no doubt have big returns. The A’s could appreciate their current worth from $1.5 billion to $3 billion once they are at their new Las Vegas digs.

#4 A meeting scheduled with the Las Vegas Stadium Authority headed by Las Vegas Chamber of Commerce CEO Steven Hill for December 5th to put the final vote for final approval and towards breaking ground at the Tropicana for the ballpark. Construction is expected to begin in March and the ballpark should be finished with a opening day target date of 2028.

#5 Long shot: Schools over Stadiums has hardly given up hope to stop the public funding of SB1. Alexander Marks Schools over Stadium spokesman who has attended many of the ballpark meetings at the Las Vegas Stadium Authority has spoke many times against the funding of public money being used when it should be used for public education. Marks hopes to get enough signatures to put an initiative on the Nevada ballot to stop the public funding of the A’s Las Vegas ballpark. If successful the A’s would be forced to find private money instead of Nevada State money or SB1 funding for the $350 million the A’s said they would use out of the $380 million.

Join Daniel Dullum for the Sacramento A’s podcasts each Sunday at http://www.sportsradioservice.com

That’s Amaury News and Commentary podcast: Schools over Stadiums makes its point as Nevada prepares to spend public money for Warner Bros studios

Published on by Sports Radio ServiceLeave a comment

Las Vegas Stadium Authority CEO Steve Hill (left) and Oakland A’s president David Kaval (right) are seen discussing the Las Vegas Ballpark in 2023 (LV Sports Biz file photo)

On That’s Amaury News and Commentary podcast:

#1 According to Nevada Governor Joe Lombardo said that parents should see his open letter about free school meals. Lombardo is trying to show that the state is doing something with public money to help schools at the same time using public money for the A’s ballpark.

#2 On Tuesday Schools over Stadiums representative Alexander Marks said that while Lombardo claims he’s transparent then why does he refuse speak to the press about the free school meals budget when they’ve asked for public comment proves the point that the State of Nevada and the Lombardo are not being transparent.

#3 Also on Tuesday it was announced that a Nevada judge will rule if it’s legal to earmark $380 million in public funds to help fund the Las Vegas A’s ballpark on Las Vegas Blvd and Tropicana.

#4 Marks writes on X Tuesday that if the State of Nevada were to a write movie about having a fully funded school system with 20 students per class it would be a like a rated F movie that requires billionaires to build their own studios without public money after news broke that Warner Bros wants to build studios in Vegas if the Nevada State Legislature approves a film tax for the studios. More public money being used for studios and stadiums instead of public schools.

#5 Marks also mentioned Las Vegas Stadium Authority CEO Steven Hill in last week’s meeting regarding the financial progress of the A’s paying for their share of the ballpark that “We’re rounding third and headed for home. There are not many open issues left.” Marks countered by writing on Schools over Stadiums X page, “Except for financing, final renderings, actual stadium location, the constitutional lawsuit, the 2026 referendum…yup very few open issues left”

Amaury Pi Gonzalez is the lead play by play voice on the Oakland A’s Spanish radio network 1010 KIQI San Francisco and 990 KATD Pittsburg and does News and Commentary at http://www.sportsradioservice.com

That’s Amaury News and Commentary: Bally’s merger helped A’s plan for Las Vegas

Published on by Sports Radio ServiceLeave a comment

The Tropicana is seen in the process of demolition on the Strip in Las Vegas Monday, July 22, 2024. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

Bally’s merger helped A’s plan for Las Vegas

That’s Amaury News and Commentary

By Amaury Pi-González

As the Oakland A’s prepare to end their over half-century playing at the Oakland Coliseum this 2024, things in Las Vegas are moving with Bally’s corporation. And according to Bally’s Corp CEO Soo Kim, “It’s business as usual.”

So what does this mean? According to the Las Vegas Business Journal, which has been the best source of information regarding the proposed A’s relocating to Las Vegas, Kim (who managed the hedge fund) bought out Bally’s in an announced $4.6 billion deal.

With this deal, Bally’s owns the rights to develop the 35-acre Tropicana site. Thursday’s announcement moved the A’s closer to the potential move, as the Tropicana is now scheduled to be demolished in October.

Bally’s owns the rights to develop the 35-acre site for the proposed A’s ballpark. According to the Las Vegas Business Journal, the A’s are negotiating and finalizing a trio of agreements with the Las Vegas Stadium Authority that would make up to $380 million in public funding available to the team to finance a portion of the stadium’s costs.

Steve Hill, the Stadium Authority Chairman, said last week that he expects the work of those agreements, the development, lease, and non-relocation, to go until about December when they will be approved as the A’s enter into a contract with Clark County.

Once those agreements are approved, the A’s must also spend the first $100 million on the ballpark project before the public money is available. According to the Las Vegas Business Journal, the A’s will likely use just $350 million of the available $380 million in public funds.

Plans call for the construction of the A’s stadium to begin in April and be completed in time for the 2028 MLB season. Meanwhile, the A’s are scheduled to play the interim year of 2025-2027 at Sutter Health Park in Sacramento, as their tenure at the Oakland Coliseum ends September 26 against the Texas Rangers.

Like everything in a free enterprise capitalist Democracy, money rules, and like one: “philosopher” said, “money talks and BS walks”. Which is paraphrasing corrupt Democrat Congressman Michael Meyers in the 1980 Abscam probe.

It means, pay me a bribe or go for a walk, i.e., I’m not listening to you. It is similar to the “Pay to Play” corruption scheme in various parts of the country. “Pay to Play” is also why the FBI has investigated the Mayor of Oakland Sheng Thao.

Amaury Pi Gonzalez is the lead play by play announcer on the Oakland A’s Spanish radio network at 1010 KIQI San Francisco and 990 KATD Pittsburg and does News and Commentary at http://www.sportsradioservice.com

Headline Sports with Charlie O: Dodgers might trade to make up for injuries; Jays Bichette on 10 day IL; plus more news

Published on by Sports Radio ServiceLeave a comment

Mookie Betts who is suffering from a hand injury is expected back by Aug 2. Betts and whole list of key Dodgers players are on the IL and the Dodgers are considering making trades to make up for the holes in their line up. (AP file photo)

On Headline Sports with Charlie O:

#1 The Los Angeles Dodgers who got swept by the Philadelphia Phillies and lost two out of three to the Detroit Tigers are looking at ways to back in this thing again. They might be consider making some trades and looking for some help as they have some key players on the IL, Mookie Bets, Clayton Kershaw, Jason Heyward, Yoshinobu Yamamoto, and Dustin May just to name a few.

#2 The Toronto Blue Jays Bo Bichette is on the ten day IL with a left calf injury. Bichette injured his calf running up the first base line after hitting a line out to right field. How does this effect the Jays missing a bat like Bichette’s.

#3 The Tampa Bay Rays first baseman Yandy Diaz was put on the restricted list because of personal family issues. The Rays ended up calling infielder Curtis Mead from the Rays triple A team in Durham.

#4 It’s a Major League debut to be remembered by the Oakland A’s Jacob Wilson but for all the wrong reasons. On Friday night Wilson rounding third base after advancing from second pulled up injured and in the dugout just couldn’t get back on track and had to leave the ball game.

#5 The Las Vegas Stadium Authority hosted a meeting on Thursday with Oakland A’s owner John Fisher’s business partner Sandy Dean at the Las Vegas Convention Center to discuss the plans for the new Las Vegas ballpark on the Vegas Strip. Dean told the Stadium Authority with Authority president Steven Hill on the dais that the A’s plan to spend $350 million of the $380 million of the public money. Neither Hill nor Dean disclosed where or how Fisher will come up with his share of the $500 million towards construction costs will come from. Last report was Fisher was looking for investors to help come up with the costs but still crickets on that as well.

Join Charlie O for Headline Sports each Sunday at http://www.sportsradioservice.com

Oakland A’s Relocation podcast with Daniel Dullum: A’s say they’re in good shape on ballpark construction costs won’t need to use all $380 million of state money

Published on by Sports Radio ServiceLeave a comment

Sandy Dean a family business partner of Oakland A’s owner John Fisher addresses the Las Vegas Stadium Authority at the Las Vegas Convention Center on Thu Jul 18, 2024 regarding the financing of the Tropicana ballpark on the Las Vegas Strip. (photo by the Nevada Independent)

On the Oakland A’s Relocation podcast with Daniel:

#1 The Las Vegas Stadium Authority was notified by the Oakland A’s that they are in good financial standing and will not need to use all of the $380 million in public funds to pay for the construction towards the Tropicana ballpark on the Las Vegas Strip.

#2 The Stadium Authority met with Sandy Dean on Thursday. Dean a business partner with Oakland A’s owner John Fisher said the team is in “good shape” asked how the A’s are in good shape and where the finances were coming from to cover the $1.2 billion in construction costs Dean didn’t comment.

#3 Dean stated at the meeting that the A’s intend to use $350 million of the $380 million in public funds. Dean said the A’s never planned to use the full amount and that the remaining funding will be off set by debt financing.

#4 Public financing of the ballpark comes from transferable credits $180 million coming from the State of Nevada, another $120 million coming from Clark County bonds, and county infrastructure costs will run $25 million. So it looks like Nevada is ready to pitch in for their share of the costs.

#5 Still after the meeting the question of where Fisher was going to come up with his share of the construction costs at $1.2 million was an issue. In a March 2024 interview with the San Francisco Chronicle Fisher told the paper that payments for the construction costs at $200 million from debt, $500 million from the Fisher family, and another $500 million from investors. It’s mid July and there has been no word on where the money is coming from from Fisher’s share of the construction costs other than Dean saying the A’s are in “good shape” to cover the costs on the public money.

#6 News out of Sacramento Vivek Ranadive said that he’s prepared to spend millions for improvements to upgrade the park to MLB specs over the off season as the A’s will open the 2025 season at Sutter Health Park. The discussion of playing on turf has the Players Union concerned and MLB Commissioner Rob Manfred said all they have to do is put some water on the turf and that should cool things off and solve the problem.

Daniel Dullum does the Oakland A’s Relocation podcasts each Friday at http://www.sportsradioservice.com

That’s Amaury News and Commentary podcast with Michael Duca: MLB owners vote on A’s relocation this week; Nevada Independent calls A’s relocation mismanagement and political cronyism

Published on by Sports Radio ServiceLeave a comment

The Tropicana Hotel and Casino is on the chopping block to get demoed late 2024 and the construction for the A’s ballpark is to begin April 2025 according to the Las Vegas Stadium Authority. (photo by the Nevada Independent on May 9, 2023)

Michael Duca filled for That’s Amaury’s News and Commentary podcast:

#1 Michael, the Nevada Independent calls A’s coming to Vegas mismanagement, political cronyism, and a public relations disaster as the MLB owners prepare to vote on the A’s relocation this week.

#2 The article goes onto to say last week’s meeting with the Las Vegas Stadium Authority so far shows that this is throwing tax dollars away at the Tropicana ballpark and that’s it’s a worthy investment.

#3 So far the A’s have not produced how they will fund the construction costs and they have not presented a rendering of how the park will look like and the MLB owners A’s relocation vote is Tuesday night in Arlington.

#4 One other feature that’s hardly been discussed that the Independent shined the light on was the lease agreement between the team and the Las Vegas Stadium Authority this a deal similar to what Allegiant Stadium has that the A’s would not have to pay rent for 30 years and revenues go to the A’s. That would include fringe benefits of retail, hotels, and office space that the A’s will benefit from when the Tropicana is developed.

#5 One other important point there is no oversight committee to see how the public funds are allocated and managed over the project. The Independent points out that the oversight is being managed by the very same people who lobby lawmakers for public money who helped the A’s move from one binding agreement (the Rio) to the Tropicana. This is public money being thrown away to a private business that the Stadium Authority claims would be a benefit for public interests but is really helping private interests such as the Tropicana Ballpark development.

Michael Duca filled in for Amaury Pi Gonzalez who does News and Commentary podcasts Tuesdays at http://www.sportsradioservice.com

Oakland A’s relocation podcast with Daniel Dullum: Las Vegas Stadium Authority wants to break ground for A’s ballpark April 2025; Schools over Stadiums ready to fight lawsuit

Published on by Sports Radio ServiceLeave a comment

Proposed renderings of the Tropicana ballpark on the Las Vegas strip at Tropicana and Las Vegas Avenue. The Las Vegas Authority announced this week that construction is scheduled to begin December 2025. (image from the Oakland Athletics)

On the Oakland A’s relocation podcast with Daniel:

#1 Las Vegas Stadium Authority said they are ready to break ground at the Tropicana Hotel and Casino location for the Las Vegas A’s ballapark. Construction company Mortenson-McCarthy the A’s ballpark manager will be handling the building of the new park.

#2 In a community group engagement plan the Stadium Authority presented details of how minority and diverse businesses and vendors will play a part during the construction of the park.

#3 The plan also said that 51 percent of the construction will be done by minority, disabled and diverse groups and 15 percent of the construction work will be done by small local businesses sub contractors.

#4 Two law firms Hunton Andrews Kurth and Brownstein Hyatt Farber Schreck will be doing legal work for the A’s will negotiate on the A’s business dealings on various agreements. The Authority approved $1 million for legal fees for the law firms to represent the A’s in the business side of the venture.

#5 Meanwhile Schools over Stadiums is still on the march trying to get petitions in four Nevada Districts ready to submit for a ballot initiative to stop the use of public monies towards the A’s ballpark. A lawsuit filed against Schools over Stadiums by Attorney Bradley Schrager who represents the A’s stating the initiative is misleading and the words on the petition language are misstated.

#6 Schools over Stadiums spokesman Alexander Marks said of the A’s lawsuit  “Suing educators trying to put schools first sets a terrible tone for an organization claiming to now care about our community.” Alexander added that he’s confident that the referendum will go forward.

Join Daniel Dullum for the Oakland A’s Relocation podcasts Fridays at http://www.sportsradioservice.com