A's clear last big hurdles for .75B Vegas stadium

Sports

A’s clear last big hurdles for $1.75B Vegas stadium

Published

7 months ago

December 6, 2024

admin

ESPN News Services

Dec 5, 2024, 07:33 PM ET

LAS VEGAS — The Las Vegas Stadium Authority approved lease, non-relocation and development documents Thursday to clear the last major hurdles for the Athletics to construct a $1.75 billion stadium on the Strip and bring Major League Baseball to the expanding sports market.

The lease and non-relocation agreements each cover 30 years.

“It’s a really significant day in Las Vegas,” Steve Hill, CEO and president of the Las Vegas Convention and Visitors Authority, said in his closing remarks. “Today’s a real milestone. I think we should recognize that and celebrate that.”

That drew applause from most of those in attendance.

“It’s really an exciting day for the A’s,” team board member Sandy Dean said. “We’re grateful to everybody that helped us be here today.”

Other details remain to be worked out, such as a development agreement with Clark County, but groundbreaking probably will take place in the spring to allow a scheduled opening for the 2028 season.

Dean said talks with the county were in the early stages.

“Clark County has been very receptive to our timeline,” Dean said.

The cost for the A’s stadium has risen by $250 million because of inflation and added fan and player amenities, Dean said. They include an under-seat cooling system and a split lower bowl to bring the crowd closer to the action.

He said it was possible costs could rise more based on factors such as interest rates.

“But we’re also going to do our best to create a great ballpark and manage the costs the best we can,” Dean said.

Hill said the A’s are “committed to the premier world-class stadium that is outlined in the law. They know that is what Las Vegas needs.”

Nevada and Clark County are providing $380 million in public funds for a 30,000-seat domed stadium estimated to have a 33,000 capacity. Public financing doesn’t begin until the A’s have spent at least $100 million. Dean said the organization already has invested $40 million.

Dean also said club owner John Fisher increased the previous pledge of his family’s money to $1.1 billion. Dean said U.S. Bank and Goldman Sachs will offer a $300 million loan. Fisher still hopes to attract investors in Las Vegas and elsewhere who would purchase equity in the team, according to Dean.

“Any overages are the responsibility of the A’s,” Hill said during the board meeting. “This may not be the last time the costs rise.”

Hill also said he had full confidence the Fisher had finances to meet obligations. The board also approved that the A’s have the ability to pay for their share of the ballpark’s construction.

Four letters were included in documents to the Stadium Authority board meeting to show that the financing is in place even if Fisher doesn’t attract investors. They include:

A loan commitment from both banks.
Statements saying Fisher and his family have the ability to meet their financial pledge.
A U.S. Bank review of the owner’s finances that backs up Fisher assertion he has money in place. Steve Vogel, who oversees the bank’s sports investments, told the board based an analysis of Fisher’s brokerage statements, filings with the Securities and Exchange Commission and other documents that Fisher has “assets more than sufficient to fund the equity portion” of the stadium’s construction.
Commitments to Athletics StadCo LLC, an entity created to handle the private capital investment.

The A’s will play at least the next three seasons at a minor league ballpark in West Sacramento, California. They recently played their last of 57 seasons in Oakland, California.

The LVSA decision came hours after sources told ESPN’s Jeff Passan that the A’s had reached an agreement to sign free-agent pitcher Luis Severino to a $67 million, three-year contract, the richest deal in club history.

The A’s would add another professional team to a Las Vegas market that also includes the NFL’s Raiders, NHL’s Golden Knights and WNBA’s Aces. The Golden Knights and Aces have combined to win three championships in recent seasons.

Information from The Associated Press was used in this report.

Sports

D-backs star Marte’s home robbed during break

Published

5 hours ago

July 17, 2025

admin

D-backs star Marte's home robbed during break

Associated Press

Jul 17, 2025, 01:35 AM ET

SCOTTSDALE, Ariz. — A home belonging to Arizona Diamondbacks star Ketel Marte was burglarized during the Major League Baseball All-Star break, according to police.

Scottsdale, Arizona, police confirmed that the department is investigating a “high-dollar residential burglary” that is believed to have happened on Tuesday night, which is when Marte was playing for the National League in its All-Star game win in Atlanta.

Numerous personal items and jewelry were stolen. No one was at home when the burglary occurred.

Police said the home is “reportedly” owned by Marte. Maricopa County Assessor’s Office records show Marte owns a home on the block near the investigation.

Police say the investigation is ongoing.

Marte hit a two-run double in the first inning of the NL’s win, which was secured after a home run contest at the end of the game after the score was tied after nine innings.

The burglary is the latest in a series of thefts from the homes of high-profile athletes across the country this year. Players have been targeted because of the high-end products believed to be in their homes and sometimes the thefts occur when they are away with their teams for road games.

The FBI has warned sports leagues about crime organizations targeting professional athletes. The NFL and NBA have issued security alerts to athletes.

A Seattle man was charged last month in connection with a string of burglaries at the homes of prominent active and retired professional athletes in the area.

Sports

Cubs icon Sandberg ‘continuing to fight’ cancer

Published

5 hours ago

July 17, 2025

admin

Cubs icon Sandberg 'continuing to fight' cancer

Field Level Media

Jul 16, 2025, 01:09 PM ET

Chicago Cubs legend Ryne Sandberg said Wednesday he is “continuing to fight” cancer and is prioritizing time with those closest to him.

He posted a letter addressed to his fans and extended baseball family on Instagram.

“I wanted to share an update regarding my health,” wrote Sandberg, 65. “It’s been a challenging few months as I have been going through treatment on a regular basis.

“While I am continuing to fight, I’m looking forward to making the most of every day with my loving family and friends.

“I haven’t been to Wrigley Field as much as I hoped in the first half but I’m watching every game and am excited for the second half.”

He threw out the first pitch, surrounded by fellow Cubs greats, before the home opener on April 4.

In January 2024, Sandberg announced he had been diagnosed with prostate cancer, then last August announced he was cancer-free. In December, he said the cancer had recurred and spread. He vowed to “continue to be positive, strong, and fight to beat this.”

Sandberg spent 15 of his 16 major league seasons with the Cubs, along with 13 games at the start of his career for the Philadelphia Phillies (1981).

Sandberg was the 1984 National League MVP, when he batted a career-high .314 with a major-league-leading 19 triples and 114 runs scored as well as 19 home runs, 84 RBIs and 32 stolen bases.

The second baseman also earned the second of his nine career Gold Glove awards that year. He was a 10-time All-Star selection and a seven-time Silver Slugger honoree, batting .285 with 282 home runs and 1,061 RBIs in his 2,164-game career.

Sandberg, who was elected to the National Baseball Hall of Fame in 2005, also spent parts of three seasons (2013-15) as the Phillies’ manager.

Sports

Rangers give All-Star bonus to snubbed Eovaldi

Published

5 hours ago

July 17, 2025

admin

Rangers give All-Star bonus to snubbed Eovaldi

Jul 16, 2025, 02:10 PM ET

Despite an excellent first half to the season, Texas Rangers starting pitcher Nathan Eovaldi wasn’t selected as an All-Star this year, but the team made sure that he’ll be paid like one.

Despite the snub, Eovaldi was given the $100,000 All-Star bonus in his contract by the Rangers after he posted a 1.58 ERA with 94 strikeouts over 91 innings. Teammate Jacob deGrom, who was selected as an All-Star, also received a $100,000 bonus.

Eovaldi, in his 15th major league season, would lead the majors in ERA, but after missing a month due to a triceps injury, he fell six innings short of the necessary 97 innings to qualify among leaders for individual statistical categories.

Eovaldi, a two-time All-Star, won his third straight game on Sunday to improve to 7-3, giving up five hits and a run with eight strikeouts in 7 2/3 innings against the Houston Astros.

The right-hander ranks second only to Detroit Tigers ace Tarik Skubal among MLB starting pitchers in WHIP (0.85) and strikeout-to-walk ratio (6.71). Opposing batters are hitting a paltry .194 with a .237 on-base percentage, .286 slugging percentage and .523 OPS against Eovaldi.

Eovaldi is scheduled to make his first start of the second half at home on Sunday against Skubal and the Tigers at Globe Life Field.