A's get agreements in Las Vegas

Jason Burke | Dec 6, 2024

Sep 22, 2024; Paradise, Nevada, USA; The Welcome to Fabulous Las Vegas sign. Mandatory Credit: Kirby Lee-Imagn Images / Kirby Lee-Imagn Images

At Thursday's meeting between the Athletics and the Las Vegas Stadium Authority, three key agreements, including the non-relocation, lease, and development, were signed. This is another step that needed to be made for the A's hopes of ever building a ballpark in Vegas to move forward.

The non-relocation agreement is for 30 years and includes stipulations for what happens if the A's (ironically) attempt to relocate away from Sin City before the lease is up. They will also have the ability to extend the lease up to 99 years.

The development agreement basically says that the A's need to spend at least $100 million before getting any of the agreed upon public funding. The $40 million that the club has reportedly spent on the planning of the project counts toward that total.

These agreements were all expected to fly through, and they have. One of the biggest cheerleaders for the project, Steve Hill, also runs the LVSA. Like we have said numerous times, the only thing that will be important is when Fisher finally decides to spend his money on building a ballpark. He has written letters saying he's good for it (or that his family is wealthy), but that's not the same as actually doing it.

One reason, and arguably the first reason he's given, to believe that he just may spend over a billion dollars of his own money on this project is that the A's reportedly agreed to terms with free agent right-hander Luis Severino on Thursday for three years, $67 million. The reported signing is a big change in how Fisher has done business with the franchise for the past two decades.

That said, there is an opt-out after two seasons, which could knock down the amount actually paid out to about $45 million, and there is a large distance to cover between a moderate free agent contract and a $1.4 billion stadium deal.

It's also worth noting that the projected cost of the ballpark project is also going up, from $1.5 billion to $1.75 billion, and the A's (John Fisher) will be on the hook for any cost overruns for the project.

The team is also holding with their plan to break ground on the ballpark during the second quarter of 2025, which would have them ready for Opening Day 2028. Minor delays would keep them on that path, but if things drag on into the fourth quarter of 2025, then their target date could be in jeopardy.