Athletics Las Vegas Stadium Groundbreaking Ceremony Announced

The Athletics have announced the start date for the construction of their new $1.75 billion stadium in Las Vegas, moving one step closer to making Sin City their new home.

Athletics Announce Groundbreaking Ceremony

Fans of the team should mark June 23, as that’s when the official groundbreaking ceremony will be held, despite construction on the site technically starting in April. Expected attendees at the event include team ownership, Nevada Governor Joe Lombardo, members of the state legislature, and the Clark County Commission. The stadium’s construction is projected to take 32 months, with completion targeted in time for Opening Day 2028. In the meantime, the Athletics will play at a minor league ballpark in Sacramento, where they kicked off the season in March.

The A’s began considering Las Vegas as a potential new home for the franchise in 2021, after receiving approval from MLB. According to the team, they should get a strong local turnout when the stadium is finished. In an interview from April, Athletics’ vice chair Sandy Dean said that the team has always thought that this would be the case. 

Where Will the Construction Budget Come From?

Whether the $1.75 billion ballpark will actually be built remains uncertain, as most of the financing has yet to be secured. So far, the only confirmed funding includes $350 million in bonds from Clark County and the state, along with a $300 million construction loan from US Bank and Goldman Sachs. That still leaves a $1.1 billion gap that the A’s are expected to cover themselves. In reality, the shortfall may be closer to $1.35 billion, since the project’s cost estimate hasn’t been updated in over a year, and construction materials, particularly steel and aluminum, continue to rise in price.

Meanwhile, shares of GAP Inc., where the majority of A’s owner John Fisher’s wealth is concentrated, have been highly volatile in recent weeks and are down 12% over the past six months. Adding to the uncertainty are potential new tariffs, which could also have a significant impact on the project.

However, if no major investors come on board, Fisher has stated that he and his wealthy family will cover the remaining costs, meaning the entire project ultimately rests on a single individual’s promise. It should also be noted that Fisher brought on Galatioto Sports Partners nearly two years ago to help secure minority investors in the team, but none have materialized. Most experts believe the lack of interest stems from the team’s $2 billion valuation, which is widely seen as overly optimistic. Only time will tell whether the needed money for the stadium’s construction can be raised in time.