Supporters of a plan to bring the Oakland Athletics to the Las Vegas Strip said they remain optimistic about the project despite a series of events that have led some to question the team’s intentions.
“I think from our point of view, a lot of this is noise,” said Brandon Moore, chief operating officer of Gaming and Leisure Properties Inc (GLPI), which owns the Tropicana Las Vegas site where a $1.5 billion stadium is planned. of dollars and 33 thousand seats. “Much of this (process) is moving forward according to the timelines we would have expected.”
Moore spoke during a GLPI earnings statement Wednesday. His optimism coincides with comments from Major League Baseball (MLB) Commissioner Rob Manfred, who said that “Las Vegas is strong,” while acknowledging recent comments from Las Vegas Mayor Carolyn Goodman, who said that didn’t think the Tropicana site made sense, while primarily promoting the Cashman Field site in downtown Las Vegas, they were “a little harsh.”
“But, you know, from my perspective, (Goodman) was the first person who talked to me about baseball in Las Vegas,” Manfred told the San Francisco Chronicle. “I understand that all politics is local, and the county is different than the city, but I think the governor and politicians in general in Las Vegas remain committed to the agreement. “I think the deal will go through.”
The Tropicana site is located in unincorporated Clark County and is governed by the Clark County Commission. Goodman oversees the city of Las Vegas, which is an independent jurisdiction with no oversight of development on the Las Vegas Strip.
Gov. Joe Lombardo and Clark County Commissioner Jim Gibson reaffirmed their support for the stadium project after Goodman’s initial comments were published this month on a Front Office Sports podcast. Goodman then issued a statement in which she clarified that she is excited about the possibility of Major League Baseball locating in Las Vegas and that she would welcome the A’s to the city, should their move be successful.
Uncertainty generates doubts
Goodman and a group of fans and media have questioned the viability of the move and the stadium project, mainly due to the delay in the release of new renderings and the uncertainty over where the A’s will play between 2025 and 2027 after the expiration of their lease at the end of the year at the Oakland Coliseum.
All this despite the fact that there are more than four years until the inauguration of the stadium, scheduled for 2028, and more than a year until the start of construction.
Bally’s Corp. plans to close the Tropicana on April 2 to begin preparing the site for demolition. The demolition process is expected to last between 9 months and a year.
The A’s plan to break ground on the stadium in April 2025. Until then, the team must complete a series of agreements with the Las Vegas Stadium Authority and obtain the necessary permits and financing to begin construction of the stadium. The A’s are tasked with spending the first $100 million on the project before up to $380 million in public financing is made available to them, as established by the stadium’s public financing mechanism, Senate Bill 1 .
The A’s and Bally’s Corp., which owns and operates the Tropicana and leases the land on which the property sits, are working together to finalize site plans that include the MLB stadium and a new hotel that Bally’s plans to build next. for the A’s to start playing in Las Vegas.
“It is our understanding that Bally’s and the A’s are working closely to ensure that the design of the new A’s stadium and integrated resort really maximizes the use of that property, that 35-acre parcel and the value of it,” Moore stated.
The owners have seen the plans
Moore noted that GLPI executives have seen the most recent plans for the stadium and are excited about the project’s potential.
“We’ve had the opportunity to look at the architectural designs of the stadium, and we’ve seen several variations of the integrated resort design, and we continue to believe that the fully developed property will be a very nice addition to that corner of the Strip,” Moore said. As the property owner, he said, GLPI is closely monitoring the project to ensure the value of that parcel is maintained.
As part of the binding letter of intent signed in May by the A’s, Bally’s Corp. and GLPI, the A’s will pay all costs related to the development of the design and construction of the stadium and Bally’s will pay all costs related to the hotel remodel and the casino. GLPI and Bally’s will make the nine acres available to the A’s free of charge.
GLPI will provide up to $175 million toward construction costs, including demolition, site preparation and construction of public spaces the stadium will use. The agreement notes that GLPI could also help fund other construction-related costs, depending on the circumstances.
“If we can boost it, we certainly will,” Moore said. “We are waiting to see what Bally’s proposes for the integrated resort and then we will find out what our opportunities are to invest in it and, to some extent, it will depend on Bally’s financing needs. “We’re in kind of a wait-and-see mode, but we remain optimistic that it will be a good project on the corner of the Strip.”
2024-02-28 23:49:51
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