(KRON) -- The Oakland Athletics have reached another "binding agreement" to purchase land to build a stadium in Las Vegas, Bally's Corporation announced in a press release Monday. The proposed site for the new ballpark will be on a portion of the current Tropicana Las Vegas property.
Monday's announcement is the second such announcement regarding the A's securing land for a ballpark in Vegas. Last month, the team announced it had entered a similar binding agreement to purchase a 49-acre site close to the Vegas strip. That announcement apparently came as a surprise to the City of Oakland, which at the time, was engaged in talks with the team about a proposed stadium development at Howard Terminal in the Port of Oakland.
It's unclear why the A's abandoned plans for their initial site. However, there have been reports that it could be related to a required $500 million in public funding that has yet to materialize.
The new site is part of a partnership between the A's, Bally's and Gaming & Leisure Properties, Inc. The 35-acre site is located on Las Vegas Boulevard and Tropicana Avenue. Nine acres of the site will be allocated for the ballpark, which will accommodate around 30,000 fans, Bally's said.
"We are excited about the potential to bring Major League Baseball to this iconic location," said A's President Dave Kaval. "We are thrilled to work alongside Bally's and GLPI, and look forward to finalizing plans to bring the Athletics to Southern Nevada."
According to a report in the Nevada Independent, the deal is still contingent on legislative approval for $395 million in public funding for the project. Plans for the initial Vega site, 49 acres west of Interstate 15, have been scrapped, according to the Independent.
The newly proposed ballpark adjacent to the Vegas strip will attract more than 2.5 million fans and visitors annually, according to Bally's.
Fans in Oakland meanwhile, still maintain faint hopes the team will somehow remain in the city and are urging owner John Fisher to sell.
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