According to Fanhouse’s Ed Price, the deal between the Angels and Bobby Abreu is worth $19 million over two years and includes a vesting option for 2011.
Abreu, who had to settle for a one-year, $5 million deal last winter, will make $9 million each of the next two seasons. The details of the vesting option aren’t known yet, but it is also worth $9 million. If it fails to vest, then the Angels can buy out Abreu for $1 million.
The deal leaves the Angels with six remaining free agents, including two who are expected to command big multiyear deals in John Lackey and Chone Figgins. They could also lose Vladimir Guerrero, Darren Oliver, Kelvim Escobar and Robb Quinlan.
Nevada Senate vote on proposed A’s stadium in Las Vegas extended until next week
Robert Edwards-USA TODAY Sports
CARSON CITY, Nev. — The Nevada Senate adjourned Thursday without voting on a financing bill for a proposed $1.5 billion Las Vegas Strip stadium for the Oakland Athletics, extending the special legislative session into the next week amid negotiations over whether to contribute $380 million in public funding to the project.
The measure can still be amended by lawmakers, and if it passes the Senate it would still need approval from the Assembly before going to the desk of Republican Gov. Joe Lombardo, who has expressed support for it. Both the state Senate and Assembly are adjourned until Monday.
In a hearing that began Wednesday and stretched into the early morning hours Thursday, lawmakers peppered tourism officials and a representative from a firm partnering with the ball club with questions about the feasibility and benefits of financing such a deal.
Public funds for the stadium would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes.
The A’s would not owe property taxes for the publicly owned stadium. Clark County, which includes Las Vegas, would also contribute $25 million in credit toward infrastructure costs.
A’s representatives and some tourism officials say a deal would further grow Las Vegas’ developing sports scene and act as an economic engine, but a growing chorus of economists and some lawmakers warn that the project would bring minimal benefits for the hefty public price tag.