The cost of developing a new MLB arena in Las Vegas is increasing by almost 17% due to inflation and the addition of new features. The city is preparing for its first MLB team by building a new ballpark on the former site of the Tropicana. Initially projected to cost $1.5 billion, the price tag has now risen to $1.75 billion.
According to the Las Vegas Review-Journal, $380 million of the total development cost will be covered by public funding. The Athletics franchise is responsible for covering any budget overruns to ensure that the Las Vegas public does not have to bear any additional expenses.
Despite concerns about the Fisher family’s ability to meet their financial obligations, MLB Commissioner Rob Manfred is satisfied with the assurances provided by the league. The new ballpark will feature 70,000 square feet of additional space, including extra suites and more general admission ticket areas. It will also be the first MLB stadium to offer under-seat cooling.
Once completed in 2028, the new arena will have a capacity of 33,000 people. In the meantime, the Athletics are investing in their temporary home in Sacramento as they prepare to move from Oakland before the 2025 season. Sutter Health Park, which currently seats 10,000 people and lacks amenities, is being upgraded to meet MLB standards.
Overall, the development of the new MLB arena in Las Vegas is progressing despite the increase in costs. The city is excited to welcome its first MLB team and is committed to providing a top-notch facility for players and fans alike. With public funding covering a portion of the expenses, the project is on track to be completed on time and within budget.