Report: A's, Nevada Officials Reach 'Loose Agreement' on Financing for Vegas Stadium

The Oakland Athletics and Nevada state officials have come to terms on a public financing package en route to the team's effort to build a $1.5 billion stadium in Las Vegas.

However, the final number is "significantly less" than the $500 million the team initially sought, per Tabitha Mueller and Howard Stutz of the Nevada Independent, who provided more information:

"According to sources with knowledge of the discussions, the public financing package that will be presented to lawmakers will be lower than the initial threshold of $195 million in transferable tax credits the state set last week, and see a similar reduction from the initial request of $200 million in bonds backed by Clark County."

The A's are looking to build a partially retractable-roof stadium with seating for 30,000 in time for the 2027 season. They initially requested $500 million before knocking their request down to $395 million.

Per Mick Akers of the Las Vegas Review-Journal, A's owner John Fisher has committed $1 billion toward the new stadium.

As far as next steps go, the Nevada legislature must now approve the deal. If it doesn't get approved before the current legislative session ends on June 5, it could get cleared through a special legislative session.

In addition, MLB's relocation committee must approve the agreement by Jan. 1. MLB Commissioner Rob Manfred approves the change, saying in a statement to Akers that the league backs "the A's turning their focus on Las Vegas and look forward to them bringing finality to this process by the end of the year."

The Federal Aviation Administration must also vet the plan because of the proposed site's proximity to Harry Reid International Airport, per the Nevada Independent.

Specifically, the stadium would be on the Vegas strip and take up nine acres of the Tropicana casino site, located on Las Vegas Boulevard and Tropicana Avenue.

A proposed move to Las Vegas would end a nearly six-decade stretch in Oakland for the A's, who moved to the Bay Area from Kansas City in 1968 and enjoyed tremendous success with six American League pennants and four World Series titles—and some recent success with 11 playoff appearances since 2000.