The Athletics are in talks with potential investors as the Major League Baseball team looks to raise up to $550 million to go toward the construction of its $1.75 billion Las Vegas ballpark.
With plans to begin construction on their 33,000-fan-capacity stadium between April and June, the A’s are working on bringing in investors, who would be given an equity stake in the MLB club tied to their investment in the ballpark project, according to a person with knowledge of the process.
Interested investors are being pitched the deal, noting the A’s valuation is estimated to be $2 billion, the source said.
Multiple interested investors “who have quite a bit of capacity” have already been vetted by MLB as part of the process, the source indicated.
The investors feature a mix of those from Las Vegas and those from outside the market. The A’s have previously said that the team is especially interested in bringing in local investors on the project.
If the A’s are successful in bringing in the entire $550 million investor contribution goal, the funding breakdown for the stadium would include a mix of private equity, investor contributions, public money and bank loans:
— At least $550 million from the Fisher family.
— Up to $550 million in investor contributions.
— $350 million in public funding from Nevada and Clark County.
— a $300 million construction loan from Goldman Sachs and U.S. Bank.
The Fisher family, which owns over 95 percent of the A’s, would pay any amount that is short of the $550 million investor contribution goal. The Fishers also would be responsible to pay for any cost overruns on the stadium project.
The process in bringing new investors to the team doesn’t need to be completed before construction on the stadium begins, as the A’s can start the project using money from the Fishers.
The A’s also must spend the first $100 million on the project and enter into a development agreement with Clark County before public money will be made available to use on the ballpark project. In December the A’s noted that the team already had spent $50 million on the stadium process.
Las Vegas Stadium Authority chairman Steve Hill has said multiple times that he believes construction on the project will begin on the Fisher family’s dime, with public and investor money coming into the mix thereafter.
The A’s will play the next three MLB seasons in a minor league ballpark in Sacramento, California, with plans to begin playing in Las Vegas in 2028.
Contact Mick Akers at [email protected] or 702-387-2920. Follow @mickakers on X.
