Joe Strauss of the Post-Dispatch reports that Cardinals’ Chairman Bill DeWitt Jr. and GM John Mozeliak met with Scott Boras over the weekend, and that the team and Matt Holliday are “on the brink of a deal.” Tony La Russa acknowledged that a deal should be done this week, though he did say “At some point you have to go in one direction or the other,” suggesting that if it doesn’t get done very soon, it’s not going to happen at all.
Why? Because basically this is a situation in which the Cardinals are the only real player here. Yes, Boras has tried to create the illusion of competition, but St. Louis is ultimately bidding against itself if it does any significant additional bidding. Mozeliak knows this. Boras does too. As such, what’s likely happening now is not overall deal framework, but creativity around the edges — escalator clauses, vesting options and the like — all designed to allow one side or the other to spin the deal to their respective constituencies as a winner.
At this point, all I’m really interested in knowing is how close to right Jim Bowden was in all of this.
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.