Oakland A’s Las Vegas Ballpark Financing Tall Tales By Vital Vegas AKA Scott Roeben

YouTube video link: https://www.youtube.com/watch?v=c9gedT6lnLs

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Oakland A’s Las Vegas Ballpark Financing Tall Tales By Vital Vegas AKA Scott Roeben

. A vlog by the YouTube channel named in the video’s upper left corner and serves as the original blog post for this content.

Vital Vegas, also called Scott Roeben, is on a financed mission to simply try and discredit the Oakland A”s Ballpark in Las Vegas using his Vital Vegas platform. Scott contends that the “As don’t have the money”. He ignores the entire private-placement planning process and the Las Vegas Stadium Authority Process, which calls for an approved development agreement before financing can be released to start ground breaking. That’s a national standard, but Scott would prefer to think of Las Vegas as the whole world, when in fact, Las Vegas attracts the entire world. Big difference. How Stadiums And Ballparks Are Financed The first action any organization needs is site control, either shared or singular. In come cases governments controlled the site and built the facility (like the Georgia Dome that’s now gone), but today, a public-private agreement is far more common. Even with “privately” financed facilities, you need government approval to build at a site – that’s urban planning 101, or what we call “zoning criteria”. But once one has control, that’s a major accomplishment. Now, you can work on agreements to receive public money and private investment. That’s necessary if only to realize some net revenue that can be used by the sports organization for player development, payroll, and labor and insurance concerns. In other words, you have to design a facility that produces enough money, year after year, to pay for both private and public financing, and improve the financial picture of the team. In the Oakland A’s case, A’s President Dave Kaval turned to a new form of private-placement financing for sports facilities created by Goldman Sachs. The idea is to tap the investment interests of super-rich families, people, and organizations around the world, all who seek a return on their money. So, the A’s mentioned Las Vegas-located investors only as a courtesy: the fact is, they don’t need them. Moreover, the real question is how long would it be before they got their money back? The revenue estimates I calculated for the facilities, and based on expected tax revenue, are north of $700 million annually. If that ballpark revenue performance is sustained over just four years, that’s $2.8 billion. Not all of that will go to the investors, and the A’s have said they just need $500 million. Under one scenario (not the official one) they could pay $125 million annually back to those investors (not including interest) over those four years. Considering that the investor give-back is just 17.8 percent of the total revenue, there’s room for the ballpark to sustain a $400 million performance level in a weak economy. The point is, the investors would get their money back. And then the A’s keep the rest for the life of the ballpark, year after year. The idea is to produce the revenue to overcome that hurdle and realize a continued revenue return through the future, after investors are paid off. The pen-up-demand for sports in Las Vegas is the driver, but the right kind of facility has to be designed to make that happen. The A’s have an exciting design concept which is a good start to be able to realize investment returns. Vital Vegas AKA Scott Roeben Doesn’t Want To Sweat The Details Of Ballpark Financing So, for Scott Roeben to say the A’s don’t have the financing is to show he doesn’t understand that sight control, design, lenders, and investors, and government must all be in place: the A’s have that and more than they let on. Also, 30 teams provide 30 opportunities for people who never traveled to Las Vegas for baseball to do so. One look at the success of the Raiders in Las Vegas is all one needs to see the potential of the plan. To think it’s a pipe-dream is basically ignoring real world data that says it’s not. One has to wonder if Scott was paying attention to the entire Las Vegas Stadium Authority process for the Oakland Raiders? Well, the fact is he was a virtual no-show in the conversation and also a cheerleader for the Raiders. Why? Because his casino cash buddies wanted it, that’s why. Scott only acts when he’s paid, so no money, no whining. Nothing wrong with that as long as you admit it. The money to form the private placement bond issue is there. It has been the focus of a new effort with the A’s in partnership with Goldman Sachs. Indeed, the same team originally focused on Howard Terminal before realizing the City of Oakland did not have the proper organizational management to do the government’s end of the stadium development process. Second, the current effort is to treat the Bally’s Hotel and the Ballpark as one investment entity. It’s hard to do that when you have designs that are not compatible, so that problem has to be ironed out, and that process within the process is going on. Which gets to my point: this is all about process. Stay tuned.

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