Las Vegas is known for extravagance, big money and of course, gambling. Major League Baseball’s A’s are seemingly involved in all three. The team’s new stadium could become the most expensive non-casino structure ever built in Sin City.
What is the new cost for the A’s stadium?
A’s owner John Fisher told the Nevada Independent that the planned 33,000-capacity stadium is moving toward an April 2028 opening, but the cost is now “up in the $2 billion range.” That would be more expensive than the $1.9 billion, 60,000-seat Allegiant Stadium, the home of the Las Vegas Raiders, which opened in July 2020. It’s also approaching the $2.3 billion cost of The Sphere, an entertainment venue that opened in 2023.
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The initial cost of the A’s stadium came in at $1.5 billion and was raised to $1.75 billion last year. Construction at the corner of Las Vegas Boulevard and Tropicana Avenue is in its very early stages. The official groundbreaking happened June 23.
“There’s an incredible amount of work and time and effort and so many people’s involvement to even bring us to today,” Fishers said at the ceremony. “Three years from now, you’ll see the fruits of all of that labor when in 2028 we have opening day out here on the Las Vegas strip.”
Who will pay for the cost overruns?
The team told the Las Vegas Stadium Authority last December that budget increases had long been anticipated, and those additional costs are the responsibility of the A’s. Fisher told the Independent he’s not worried about the cost overruns.
“The costs have gone up as more detail comes in,” Fisher said. “That’s fine. From the very beginning, we wanted a design that was unique. Vegas is one of the most unique towns in the world. We wanted a building that would symbolize the excitement and uniqueness that is the market.”
Fisher and the A’s are paying $1.1 billion to build the park. He did not say how the cost increases will be paid for. Goldman Sachs and U.S. Bank will loan the team $300 million for the stadium’s construction. Another $350 million comes from the state of Nevada.
Do the A’s have any new investors?
The Athletics announced Thursday that Aramark Sports and Entertainment will be their first Las Vegas ballpark investor, naming the company the concessionaire for the team and a minority owner of the club. Fisher and his partners are working to raise up to $550 million for the ballpark.
The Aramark deal is the first partnership to be officially announced. Fisher has stated multiple times that he and his family have the finances in place to fund the stadium, but are interested in taking on investors who could add value to the team.
Fisher said the A’s want to build “the most intimate ballpark in baseball, we want to have our fans feel like they’re part of the action.”
The A’s action will be at Sutter Health Park in Sacramento, California, for two more seasons, provided there aren’t any construction delays in Las Vegas. The team is pleased with the reception and attendance they’ve received in their temporary home. They’re averaging close to 10,000 fans per game.
