Flaws in Las Vegas Relocation Continue to Emerge for Oakland A's
We are just a few weeks away from the one year mark since Nevada approved public financing for the Oakland A's proposed ballpark in Las Vegas. In that time not a whole lot has happened. MLB owners voted unanimously to approve the team's relocation, and we found out that the A's are planning to play for at least three seasons in a Triple-A ballpark in Sacramento in the interim years. That's pretty much it.
We're still waiting for details on how owner John Fisher will pay for the project. He says that it will be a combination of debt and equity financing, and reports are saying that he's looking for $500 million in investments by selling part of the team. Problem is, he's looking for a valuation for what he projects the team will be worth once he has a new ballpark. To get that ballpark he needs investors, so you can see why they may be a little wary of just handing over money.
Fisher's team is not worth the money he's looking for unless he gets money from someone else. As if that isn't enough of a big red flag for potential investors, the A's also lost $11 million last season playing in the Bay Area. Baseball prints money. You know how hard it is to not make at least a little? The San Diego Padres also lost money last year, but that's because they ran a payroll of $255 million. The A's had a payroll of $59 million, or just about $200 million less.
Finding someone to invest is going to be tricky unless Fisher adjusts his methodology.
This week it was reported that the exact location of the ballpark is still TBD. They're still saying it'll be at the Tropicana site, but they are unsure of where the nine acre facility will sit. Remember the new renderings that were released? May as well wad those up too.
If the A's had a rock-solid partner to work with, this wouldn't be much of an issue, but instead they're stuck with Bally's, and they are going through it at the moment. Bally's is also trying to build a casino in Chicago, but don't have the cash to get that project done at the moment.
What happens with Bally's is anyone's guess, so let's focus on the fact that they still don't know where this ballpark is going. Construction needs to be underway by April of next year, which is now 11 months away, in order to have a shot at the proposed ballpark opening for the 2028 season. Not knowing where the ballpark will sit is a pretty big question mark, because it takes time to figure out the overall plan.
It also points to the larger fact that the A's just haven't been terribly detail-oriented throughout this entire process, which should be concerning.
From the jump it seemed like they didn't have a plan in Las Vegas and have just been flying by the seat of their pants throughout this entire complicated relocation process. They're acting like this is a group project where someone else's hard work will carry them to the finish line, but instead it's their thesis essay. They're not going to get help unless they can prove that they are serious people at some point in this process, and to this point, they just haven't done that.
Maybe they'll find someone to do all of their work for them.
JASON BURKE
Jason is the host of the Locked on A's podcast, and the managing editor of Inside the A's. He's a new father and can't wait to take his son to his first baseball game at the Coliseum.