The most important part of Las Vegasโs bid to get an Major League Soccer expansion team will be its stadium. Not only isย a new facility a test of both ownershipโs power and governmentโs willingness, but thereโs no real way to play in the Nevada desert without a state-of-the-art stadium. Not venue, no chance.
After todayโs city council meeting, Las Vegas doesnโt appear to have a viable avenue to get itsย stadium built. Needing four of the councilโs seven members to approve $200 million development plan, the group hoping to bring MLS soccer to the city wasย left hoping for a change of heart, with a crucial if reluctant swing vote opting to wait until Oct. 1 to make a final decision.
After four hours of debate Wednesday, the City Council was deadlocked with three members supporting and three members opposing the deal with developers Findlay Sports and Entertainment of Las Vegas and Cordish Cos. of Baltimore.
Councilwoman Lois Tarkanian held the swing vote.
But Tarkanian said she couldnโt vote for the project Wednesday. She said the stadiumโs financial plan isnโt viable yet, and she wanted more time to hear more from her constituents โฆ
That doesnโt sound so gloomy, right? All Justin Findlay, head to the expansion group, has to do is win over Tarkanian.
But then you learn how the council works and realize: approving the plans is one thing; financing it is another. And this deal needs $115 million worth of city financing to get done.
Even if Tarkanian [votes yes] in October, the developers will have a tough time winning final approval.
In December, the council is scheduled to review more details of the deal, including a stadium lease and a development agreement.
Under state law, the council would need a super majority of five votes to issue $115 million in bonds.
Good luck with that.
The reasons three council members arenโt supporting the deal seem like a flashback to D.C. United, whereย stadium proposal after stadium proposal hasย raised then extinguished hopes.
In Las Vegas, there are worries the moneyโs too much. One member said โ95 percentโ of the people heโs interacted with donโt approve of the deal. For as much momentum theย spin machines give projects before councils weight in, weโre always left with an MLS truism: Things are a lot less rosy outside our soccer bubbles.
Thatโs not to say Las Vegas wonโt get done, but there appear to be some major hurdles. And ultimately, you canโt blame a city for being skeptical aboutย committing $115 million to a sports venue.
