Las Vegas A’s Stadium Construction Underway
- Foundation work has begun on the future home of the Las Vegas Athletics
- Oddly, a groundbreaking ceremony won’t occur until June
- Financing for the entire $1.78B estimated cost is reportedly secure
- However, team owner John Fisher seeks $500M in investments to lessen his $1.1B personal commitment
Foundation work for the new A’s stadium in Las Vegas is well underway. Initial grading and site preparation for the $1.78 billion, 33,000-seat domed ballpark began last month, according to the Las Vegas Review-Journal.
Currently, crews are drilling holes to be filled with steel and concrete that will provide a sufficiently stable base to hold the stadium’s 100K-150K ton weight.
Between 31 and 33 months of construction is expected to follow on the former site of the Tropicana casino resort, producing what is expected to be a home ready in time to host the team’s opening home game of the 2028 season.
The construction is the work of a joint venture between Minneapolis-based M.A. Mortenson Company (Truist Park, Target Field) Chase Center) and locally based McCarthy Building Companies (Circa Resort & Casino, Palms Casino Resort).
The Mortenson-McCartney joint venture also built the $1.97 million Allegiant Stadium for the Raiders in 2020, which was completed on time and under budget.
Even though work is already underway, a groundbreaking ceremony is expected to take place in June. That ceremony is expected to be attended by John Fisher and the rest of the A’s leadership, in addition to county, city and state officials.
The A’s team members will be busy in June. They’re playing baseball for the next three years in a minor-league stadium in Sacramento.
Money Ball
- A $1.1 billion pledge from Fisher and his family, an increase of their earlier $850 million commitment
- $380 million in public funding from Senate Bill 1, which passed the Nevada Legislature in June 2023
- A $300 million loan from U.S. Bank and Goldman Sachs.
We wrote “technically” because the Fisher family’s pledge would represent a third of its reported $3.1 billion net worth, according to Forbes. So Fisher is seeking $500 million from outside investors — potentially through selling a minority stake in the A’s at a valuation of $2 billion. (Galatioto Sports Parnters was hired last May to facilitate this, but nothing’s been announced yet.)
The team also actively seeks a stadium partnership deals, including a naming-rights deal that could be worth tens of millions.
This rendering of the Las Vegas A’s stadium was released in March. (Image: Athletics)
Comment (0)