LAS VEGAS — Growing skepticism around the Athletics’ planned move to Las Vegas has largely centered on one issue: money.
Specifically, whether team owner John Fisher has the necessary funding to construct a $1.75 billion stadium on the Strip. Groundbreaking for the stadium took place last week with a timeline set forth for the stadium to be opened in time the 2028 season. Many skeptics of the project, however, point to the fact that Fisher currently does not have the funds in hand to cover his portion of the bill. Multiple recent sports team sale, however, suggest he could raise the needed capital by selling some of his sports assets.
Fisher is actively exploring a sale of his Major League Soccer club, the San Jose Earthquakes, which Sportico recently valued at $600 million. The move comes as valuations in MLS continue to rise. For example, the Columbus Crew were valued at $730 million by Sportico earlier this year and just sold a portion of the team at a $900 million valuation — a 22.5% increase that aligns with how Sportico’s estimates often compare to actual sales.
The same trend holds in Major League Baseball. The Tampa Bay Rays, for instance, were valued at $1.35 billion but recently sold at a $1.7 billion valuation. CNBC currently lists the Athletics at $2 billion, even before their relocation to Las Vegas. A move to Southern Nevada — along with a new stadium and potentially increased revenue streams — could easily push that valuation higher.
The Nevada Legislature has already approved $380 million in public funding through Senate Bill 1. That leaves roughly $1.4 billion for Fisher and the Athletics to cover. Between the potential sale of the Earthquakes and a partial sale of the Athletics, it appears Fisher may be able to close the funding gap. For critics who doubt the Las Vegas ballpark will ever get built, the financial path forward may be clearer than it has seemed in the past — if Fisher is able to sell the Earthquakes and a piece of the Athletics at or above their current valuations.