Investor Pledges Funds for Ballpark Project Led by A in Las Vegas
The Oakland Athletics have announced plans to open a new ballpark on the Las Vegas Strip, with construction currently underway at the Tropicana Hotel site. The 9-acre ballpark, part of a 35-acre development area, is being managed by the Mortenson-McCarthy joint venture.
The stadium, expected to have approximately 33,000 seats, is set to begin operations at the start of the 2028 MLB season. The estimated cost of the ballpark has risen significantly from the initial $1.5 billion to around $2 billion, making it more expensive than the Las Vegas Raiders' Allegiant Stadium.
The Athletics family, led by owner John Fisher, has secured funding to cover the increased costs. Key to this funding is a $100 million investment in the team by Aramark Sports + Entertainment, a Philadelphia-based concessionaire that will oversee food and hospitality at the new ballpark. Aramark has also pledged an additional $75 million in capital expenditure contribution.
In a joint news release, the Oakland Athletics and Aramark Sports + Entertainment confirmed the investment, with Fisher assuring that he is good for any shortfall. This investment marks Aramark as a new minority investor in the team.
In addition to Aramark's investment, Fisher is seeking $375 million more to reach his goal of $550 million in A's equity. Interest in investing has been expressed by entities including a member of the K-Pop group BTS and a former MLB pitcher, who have expressed a willingness to invest $70 million.
The ballpark's culinary and hospitality programs will be overseen by Will Guidara, a renowned restaurateur and best-selling author. The project also includes public funding of up to $380 million in support under Senate Bill 1, with oversight to ensure community benefits and workforce standards.
The ballpark is part of a larger redevelopment of the Tropicana site, with Bally's Corp. developing an integrated resort on the remaining acreage. The details of the deal between the Oakland Athletics and Aramark Sports + Entertainment were not publicly announced. The Sports Business Journal reported the investment details.
With the construction of the new ballpark underway, the Oakland Athletics are set to bring Major League Baseball to the Las Vegas Strip, offering fans a unique, intimate ballpark experience tailored to the city's distinctive market.
