Athletics Reach Binding Agreement for Las Vegas Stadium Site; Expected to Cost $1.5B

The Oakland Athletics have signed another binding agreement to advance their plan of relocating to Las Vegas and building a new stadium.

Bally's Corporation announced Monday it has struck a deal with the A's for the project, which would see a 30,000-seat stadium built on the site that houses the Tropicana.

Bally's president George Papanier said in a statement:

"We are honored to have been selected to partner with the Oakland Athletics on this monumental step in helping to bring Major League Baseball to the great city of Las Vegas, and to be a part of the once in a generation opportunity of having a professional baseball team located within a short walk of the Las Vegas Strip."

A major hurdle remains, though.

While it's safe to assume MLB will officially approve the A's move when the time comes, Monday's announcement acknowledged the stadium plan is still "subject to the passing of legislation for public financing and related agreements."

The Nevada Independent's Howard Stutz reported the plan in place carries a price tag of $1.5 billion with $395 million in public financing. The latter figure is down from $500 million in the original outline.

Clark County Commissioner Michael Naft was dismissive of the first projection.

"That's something that they've come up with," he said in April. "You don't always get what you want. And I think that's probably going to be the case with the $500 million."

Naft also suggested local politicians might be in a position of strength since there doesn't seem to be a workable alternative for the Athletics in Oakland.

Nevada Assembly Speaker Steve Yeager told the Nevada Independent the team could be leaving little time to get the necessary legislative approval.

"There hasn't been a concrete plan that's been presented to the legislature," he said. "And I read in the media too, and it seems like every story talks about it in a different way. So in my mind, until there's some kind of concrete ask, there's really not much to discuss."

The Athletics' preference is clear, and Monday represented another step toward achieving their aims. But playing in Sin City—at least within the vision presented—remains far from a reality.