It’s 81 games of a sport highly regional in nature.
The $2 billion stadium played host to 15 concerts in 2022 and purportedly drew a fair amount of out-of-town visitors for late-season games against Kansas City and New England – though area promoters are about as good as the A’s at showing the math. The state is also pondering $190 million in annual tax credit to lure Sony to the desert, a deal that could result in nearly $5 billion in tax credits over the next 25 years.Īnd of course, the Raiders received $750 million to high-tail it out of Oakland and into Allegiant Stadium, which will host the next Super Bowl and recently sold out a pair of nights for Taylor Swift’s Eras tour. MLB FUTURES: Odds, best bets and predictions for 2023 Easy moneyĮlon Musk’s electric car company received $330 million in tax breaks. Is a sports stadium better for jobs and the community than literally anything else that might be constructed in its place?Īnd can Nevada afford to lavish the A’s with cash after the Raiders, and movie studios, and Tesla have already bellied up to the trough to gorge on public funds? Joe Lombardo’s signature would be waiting.īut legislators are increasingly asking two questions long posed by economists and concerned taxpayers: The A’s, their cadre of lobbyists in Nevada and friendly politicians and tourist officials are doing their best to hide the sausage, introducing, finally, legislation for state funding of myriad projects on the Friday night of a holiday weekend, and then offering public discussion on the evening of Memorial Day. Sports-hungry markets – be it a particularly lewd deal struck for a new football stadium in Nashville, or an entertainment-driven outpost like Vegas – usually plow these deals through with little public input and futile legislative resistance. Nevada, not the team known for its penny-pinching ways that cried poverty while playing in one of the country’s richest markets, would be left holding the bag on any shortfall. The fuzzy math that comprises this tenuous public-private partnership also counts on the team selling out virtually every one of its 81 home games to generate sufficient tax revenue to cover the stadium financing. The Oakland Athletics, who failed in their bid to elicit sufficient public funding from their home city, are banking on nearly $400 million in subsidies from the state of Nevada and Clark County to construct a $1.5 billion, 30,000-seat stadium for a franchise currently on pace to set a major league record for most losses in a season. That concept might be meeting its most stressful test in Las Vegas. Watch Video: How rebuilding of historic Hinchcliffe Stadium will have cultural impactįor decades, public subsidies for palatial new stadiums have been the backbone of professional sports, driven by the perception that fans spending money on the home team creates a positive economic impact.
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