The Athletics may be forced once again to extend their Oakland Coliseum lease, which expires in 2024, as they continue their efforst to land a new home in Oakland or Las Vegas.
Newly elected Mayor Sheng Thao said reaching a deal is important as long as it makes economic sense to the city. Her predecessor, Libby Schaaf, led prior efforts to reach an agreement, but after the city and the A’s missed that October deadline, MLB Commissioner Rob Manfred expressed reservations a deal will ever get done.
“And then I think there was some contagion where around the country people realized these deals could be done well privately and could generate a return on investment to those investors,” said David Carter, a sports business professor at the University of Southern California."Why are we throwing public money at it at all?”
Las Vegas, however, has shown financing creativity. Its Triple-A baseball stadium received $80 million in 2017 for naming rights from the Las Vegas Convention and Visitors Authority. Room taxes fund the authority, so it was public money in a backdoor sort of way. “I think I’ve made myself clear, but from conversations with others, I don’t think I’m alone on that.”
He said he doesn’t believe a baseball stadium would accomplish that, and sports economist Victor Matheson agreed.
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