The Oakland Athletics are actively seeking investors to raise up to $550 million to support the construction of their planned $1.75 billion stadium in Las Vegas. Scheduled to begin between April and June, the project includes a 33,000-seat stadium. Potential investors are being offered an equity stake in the team linked to their investment in the ballpark.
The team’s valuation is estimated at $2 billion, and several investors, both local and from outside Las Vegas, have been vetted by Major League Baseball. The Athletics are particularly keen on securing local investment.
The funding for the stadium will comprise various sources:
- A minimum of $550 million from the Fisher family, who owns the majority of the team.
- Up to $550 million from investors.
- $350 million in public funding from Nevada and Clark County.
- A $300 million construction loan from Goldman Sachs and U.S. Bank.
If the investor target is not met, the Fisher family will cover the shortfall and any cost overruns. The project can begin using the Fisher family’s funds, with public and investor contributions following. The Athletics must invest the first $100 million and secure a development agreement with Clark County before accessing public funds. The team has already spent $50 million on preliminary stadium processes.
Steve Hill, chairman of the Las Vegas Stadium Authority, anticipates the construction will start with the Fisher family’s investment, with additional funds being integrated later. The Athletics plan to play in a minor league park in Sacramento for the next three seasons, aiming to move to Las Vegas by 2028.
