The Athletics’ new Las Vegas ballpark will cost $250 million more than originally projected, but team owner John Fisher is still expected to foot his share of the bill.
In a letter to the Las Vegas stadium authority, U.S. Bank senior vice president Stephen Vogel wrote that Fisher, whose net worth is an estimated $3.2 billion, and his family can comfortably afford the now $1.75 billion project.
“We conclude that the Fisher family and their related entities have financial assets [excluding their interest in the Athletics Major League Baseball franchise] more than sufficient to fund the equity portion of the proposed capital structure for the Athletics’ Las Vegas stadium,” Vogel wrote.
U.S. Bank and Goldman Sachs are loaning Fisher $300 million for construction costs, while the public sector is chipping in $380 million, per Front Office Sports.
Fisher is still recruiting minority equity investors but has not yet given a clear picture on how he will fund the rest of the project. Fisher has said he and his family will contribute as much as $1.1 billion.
The ballpark was originally slated to cost $1.5 billion, but improvements to fan and player amenities — including suite spaces — have raised the bill.
Construction on the stadium is scheduled to start next spring. The A’s hope their new home will be ready for Opening Day 2028.
Until then, the team will play its home games at Sutter Health Park, a minor league stadium in Sacramento, California, that seats about 14,000 fans.
The A’s had called Oakland home from 1968 to 2024, but Fisher elected to move the team after failing to agree with the city on terms for building a new stadium in the Bay Area.
Source: www.espn.com