Nevada governor Joe Lombardo signed a bill on Thursday that gives public funding for a portion of a proposed $1.5 billion stadium in Las Vegas for the Oakland Athletics.
With the legislation signed, the next step is for MLB owners to approve Oakland’s relocation, which is expected.
On Wednesday, Nevada’s legislature gave final approval to provide $380 million in taxpayer money towards the stadium, which will have a retractable roof.
“I’m excited to officially sign SB1 this afternoon,” Lombardo said. “This is an incredible opportunity to bring the A’s to Nevada, and this legislation reflects months of negotiations between the team, the state, the county, and the league. Las Vegas’ position as a global sports destination is only growing, and Major League Baseball is another tremendous asset for the city.”
The new 30,000-seat baseball stadium is planned along the Las Vegas Strip, not far from the Golden Knights‘ T-Mobile Arena and another stadium that is home to the NFL’s Raiders, who also left Oakland for southern Nevada in 2020.
The public funding would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium — that would be the smallest in MLB — would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes.
The Associated Press contributed to this report.