Cost of A’s Vegas Stadium Skyrockets to $2 Billion With No End in Sight

Athletics owner John Fisher has finally admitted what every knowledgeable insider has known for two years — that building a baseball stadium in Las Vegas by 2028 will be more expensive than the $1.5 billion figure he cited in May 2023. That estimate, upped to $1.75 billion in March 2024, is now “up in the $2 billion range,” team owner John Fisher told The Nevada Independent this week.

This now makes the 33,000-seat ballpark more expensive than the $1.9 billion Allegiant Stadium, even though, as the smallest Major League Baseball stadium, it will fit about half as many people.

Fisher spoke to the Independent during an A’s home game in Sacramento, where the team is temporarily playing at a minor-league baseball park. The crowd attending that game would have only filled a third of its proposed Vegas stadium’s capacity, as the Independent noted.

“The costs have gone up as more detail comes in,” Fisher said. “That’s fine.”

Fisher declined to explain why it was fine. Or how the new shortfall of $1.35 billion would be funded. Or even how the last estimated shortfall of $1.1 billion would be funded.

So far, only $350 million in bonds issued by Clark County and the state, and a $300 million construction loan from US Bank and Goldman Sachs, have been announced.

Last December, A’s Vice Chairman Sandy Dean told the Las Vegas Stadium Authority that budget increases had long been expected and that additional costs would fall on the team’s shoulders.

While Fisher, whose personal wealth is estimated as $2.9 billion by Forbes, has given only his word that he’s good for any shortfall, he has actively been seeking partnerships for the team, in addition to investors to purchase at least $550 million in A’s equity at what is considered an overinflated valuation of $2 billion.

No major partners or investors have been announced after more than a year.

Fisher is also trying to sell his ownership in Major League Soccer’s San Jose Earthquakes, according to the Independent, but said those proceeds won’t go toward the Vegas stadium’s construction.

In addition, the new ballpark’s cost isn’t expected to stop skyrocketing at $2 billion. Stadium construction materials aren’t getting any less expensive — especially with steel and aluminum now facing 50% tariffs.

The A’s stadium, if it indeed ever gets built, could be the most expensive non-gaming construction project in Las Vegas history. That dubious record is currently held by the $2.3 billion Sphere, which came it so much over its original $1.2 billion budget, it is still financially strapping its owners.

In May, the A’s agreed to submit a security bond of $3.7 million as part of a performance agreement with Clark County. That bond would cover potential decommissioning costs (such as materials removal and structure stabilization) if the project ceases construction for any reason.