The Oakland Athletics’ journey to relocate to Las Vegas moved forward Tuesday as the A’s and Nevada state officials reached a tentative agreement regarding public financing towards the construction of a new $1.5 billion stadium in Las Vegas, according to media reports.
The A’s were initially seeking a $500 million package from Clark County before agreeing on up to $380 million in a package of transferable tax credits and bonds, according to the Las Vegas Review-Journal.
The reported agreement comes after weeks of negotiations that included Clark County representatives, the governor’s office, the Athletics and the Nevada state treasurer.
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The A’s still face obstacles, as the club awaits approval from the Nevada state legislature to make the deal official. The move also requires approval from Major League Baseball owners.
This agreement comes over a week after the A’s reached a binding agreement with the Bally’s Corporation to build a new ballpark on the Las Vegas Strip, located at Las Vegas Boulevard and Tropicana Avenue.
This is a significant step in the right direction towards the A’s relocation.