Cost of A’s Las Vegas stadium could grow to $2B, owner Fisher says

The cost of the Athletics’ Las Vegas ballpark project could approach the $2 billion mark, according to team owner John Fisher.

Following the A’s groundbreaking ceremony Monday in Las Vegas, Fisher addressed the latest projected cost of the team’s planned 33,000-fan capacity stadium and if pending steel tariffs could affect the price.

Fisher didn’t reveal the exact number of the latest budgeted amount that the stadium will cost to construct, but said it was “thereabouts” around the $2 billion mark.

“Sadly, prices for big construction projects always seem to go up, and we have our budget meetings and actually at the last one it came down a little bit; like a real little bit. I was like, ‘This is something to be celebrated,’” Fisher said.

Tariff impacts

The impacts, if any, of pending tariffs set to be levied on imported goods into the U.S., including steel, remain to be seen. The biggest potential cost impact to the stadium project is related to imported steel from Japan, where President Donald Trump is increasing steel tariffs from 25 percent to 50 percent.

The tariff situation has been changing over the last few months, so it is unclear how the steel tariff could change as the year progresses.

Fisher said that it’s tough to fully estimate what the impact of tariffs will be on the project, as the situation is fluid and dependent on when materials are ordered and ultimately brought into the U.S. for the project.

“Because remember, the tariffs apply to the materials when they arrive in the United States,” Fisher said. “So, we’ve had to make our best estimates as to what tariff costs will be. But we’ve accounted for all of that in our budgets.”

The official budget of the ballpark sits at $1.75 billion, which increased from $1.5 billion in December.

The ballpark’s construction is set to be paid for by a combination of $1.4 billion from the Fisher family and $350 million of the available up to $380 million in public funding by way of the state and Clark County.

As it stands, the Fishers plan to take about a $300 million construction loan from Goldman Sachs and U.S. Bank and contribute a $1.1 billion equity contribution. Any price increase above the $1.75 billion mark would also fall on the Fisher family.

Investor search

The A’s are actively pursuing bringing in investors to contribute a total of up to $550 million to the stadium project, in exchange for minority stakes in the MLB team. Any investments made would offset some of the Fisher family’s stake in the project.

“We have the ability to finance this all ourselves,” Fisher said. “When we were talking to fellow (MLB team) owners and the commissioner (Rob Manfred), it was important to me that we have this opportunity to bring in local investors and other investors, as we’ve seen with teams all over the county. You have these sometimes consortiums of investors who’ve brought a lot of value.”

Fisher highlighted other Bay Area teams, the NBA’s Golden State Warriors and MLB’s San Francisco Giants, as pro sports teams which have several investors in their franchises.

“For us, having outside investors … especially local investors, is something that would make the A’s an even stronger brand,” Fisher said.

The team already has a “number” of commitments from potential investors, Fisher said, but none were ready to be officially announced.

Staunch supporter

Downtown hotel magnate Derek Stevens, who owns Circa, the D Las Vegas and the Golden Gate and who also once owned the Triple-A Las Vegas 51s (now the Aviators) from 2008 to 2013, has been a staunch supporter of the A’s ever since they started researching the area in 2021.

Stevens executed a partnership with the A’s this season as they play in Sacramento, with the Circa Homestand Giveaway promotion, where a fan from each A’s homestand will win a free two-night trip to Circa, valued at $3,500.

When questioned if he planned to further his relationship with the A’s as 2028 approaches, Stevens said to expect more to come.

“We’re up here right now cooking up a lot of schemes,” Stevens told the Las Vegas Review-Journal on Monday. “Absolutely (more to come). This is just a test period. We’re going to be cooking up a lot of different ideas.”

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.