Athletics Las Vegas Ballpark

Nevada Senate passes A's Vegas stadium funding bill

NBC Universal, Inc.

The Athletics' proposal to receive up to $380 million in public funding for a new Las Vegas ballpark passed a major hurdle in the Nevada State Legislature.

Senate Bill 1, which formerly was Senate Bill 509 before the legislation failed during the Legislature's regular session, passed the Nevada Senate in a 13-8 vote Tuesday afternoon.

The vote came during a special session that originally began last Wednesday before adjourning for the weekend, and the bill first was approved by a Senate committee vote Tuesday before heading to the floor. Lawmakers originally heard the proposal during a Memorial Day hearing, and amendments since have been added to the bill's language to appease concerns brought up during days of debate.

The bill now heads to an Assembly committee vote, and then will need to pass an Assembly floor vote before Nevada Gov. Joe Lombardo can sign the bill into law. The bill would need 22 votes to pass in the Democrat-majority, 42-person Assembly.

The Assembly is scheduled to meet at 11 a.m. Wednesday, and if it approves the bill, the public funding would make the A's move from Oakland to Las Vegas possible. But the franchise ultimately needs MLB owners' approval to relocate.

As for the remaining $1.1 billion of the $1.5 billion stadium project proposed for The Strip, The Nevada Independent reported Tuesday, citing sources close to the negotiations, that A's management is working with investment firm Goldman Sachs on a combination of debt and equity financing covering no less than $1.1 billion "to be finalized once a stadium development agreement is completed."

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