Baseball
The Athletics' Las Vegas ballpark cost hikes to $1.75B
2024-12-02
According to Las Vegas Stadium Authority documents, the cost of the Athletics' planned Las Vegas ballpark has witnessed a significant increase. The stadium, which was initially projected to cost $1.5 billion, now stands at $1.75 billion. This substantial rise is attributed to factors such as inflation and the addition of 70,000 square feet of ballpark features.
Key Features and Upgrades
During the design phase, several new elements have been incorporated. More clubs and suites have been added to enhance the fan experience. Upgraded general admission spaces and player amenities have also been provided. Notably, the A's Las Vegas ballpark will be the first in Major League Baseball to offer under-seat cooling, a unique feature that sets it apart.Design Considerations
The design of the stadium focuses on maximizing natural light while protecting fans from the direct sun. With a covered roof and a north orientation, the stadium offers a comfortable viewing environment. Additionally, a view of the Strip from inside the ballpark remains a crucial aspect of the design process, working in tandem with Bally's Corp. to create an integrated resort experience.Audio and Visual Enhancements
The A's have also updated the audio and visual elements inside the stadium. These enhancements are in support of the ballpark becoming a premier concert venue. The improved sound and visual systems are designed to provide an immersive experience for both baseball games and concerts.Financial Aspects
Team owner John Fisher plans to contribute up to $1.1 billion in equity from his family. The team is also set to obtain a $300 million construction loan from U.S. Bank and Goldman Sachs. The A's expect to use $350 million of the $380 million in public money earmarked for the project via Senate Bill 1. As of this summer, the public contribution for the ballpark through SB 1 was estimated to be about $350 million, with the estimates subject to adjustment based on various factors.Fisher and the A's are responsible for $1.4 billion of the $1.75 billion price tag. The team is also looking to secure potential local project partners who would be given minority stakes in the team for their financial contributions to the stadium's construction. Any such partnership deal would reduce the amount of equity commitment from the Fisher family.Pre-Construction Activities
The A's have already spent $40 million on Las Vegas ballpark planning, which will go towards the first $100 million needed to make public funding available. Ahead of the planned construction, around 30 firms have been hired to assist with various aspects of the stadium's development and construction.Plans call for the construction of the 33,000-fan-capacity stadium to begin in the spring and be ready for the team to start playing in Las Vegas in 2028. This ambitious project is set to bring a new level of excitement to the city and the world of baseball.