LAS VEGAS (KTNV) — The Oakland A's are getting closer to relocating to Las Vegas.
The A's have reached an agreement with Red Rock Resorts to acquire 49 acres of land near the intersection of Dean Martin and Tropicana Ave in hopes of building a new baseball stadium.
As we're learning, though, it is not a done deal.
The A's have identified a location in Las Vegas for a $1.5 billion stadium and entertainment complex to be built.
But now, the clock is ticking for the team and state lawmakers to finalize the details of the funding plan.
"This has to be done in a way that actually benefits the people that live here, that they see benefit out of it," said Clark County Commissioner Michael Naft. He represents the area where this stadium is proposed.
He says he has been talking to the A's for two years about the deal.
A spokesperson with the A's tells Channel 13 they are willing to invest $1 billion.
The A's are figuring out what to do with the remaining $500 million. Oakland Athletics Major League Baseball President David Kaval expressed interest in a public financing contribution combined with a possible private investment.
Many residents are wondering now, what does this mean for taxpayers?
"Why do we need to pay for that? Why is that our responsibility? Our funding should go for schooling and things like that," said Las Vegas resident Laurie Hays.
While Hays says this is not the best way to use our funding, sports fan Curtis Matuta says otherwise.
"I wouldn't mind paying a little bit to help bring something so exciting in the city."
Commissioner Naft says Clark County taxpayers like Laurie and Curtis shouldn't worry about a new tax stream for the stadium.
"This is largely about utilizing any new taxes that are coming from that stadium district."
Naft says the A's are working closely with the governor, legislature, and the county to craft a plan that is approved before the legislative session ends in June.
Naft says if the state is going to invest we want to get a return on our money.
"We are thriving, we are doing well, this is the market where if you are in business if you are a sports franchise or if you are doing anything else you want to be here."
Without a deal approved by lawmakers, the A's could pull back from the agreement to purchase land for the stadium site and choose not to relocate to the silver state.
