Report: Fisher would be heavily taxed if he sells A's after Vegas move originally appeared on NBC Sports Bay Area
The Athletics are one step closer to packing their bags for Las Vegas after MLB owners voted unanimously Thursday to approve their relocation from Oakland to southern Nevada.
While the A's franchise value is slated to rise following the move to the Entertainment Capital of the World, USA TODAY's Bob Nightengale reported that the owners' approval included a provision that specified that A's owner John Fisher would be taxed "heavily" on any sale if he tries to sell the team for an immediate profit.
Nightengale added, citing an anonymous owner who spoke to USA TODAY Sports, that the tax would be split among the rest of the 29 team owners.
After the vote was announced, MLB commissioner Rob Manfred and Fisher addressed the media in Arlington, Texas.
"Today is an incredibly difficult day for Oakland A's fans," Fisher said. "It's a great day for Las Vegas. I understand this is an incredibly difficult day for Oakland fans and I just want to say we gave every effort and did everything we could to find a solution there. And it was only in the last couple of years that we began to turn our attention to another market, that being Las Vegas.
"I'm very excited about the opportunity in Las Vegas. The fans there are terrific. The success of the Raiders and the Golden Knights has shown, as well as our own Triple-A team, the Aviators, has shown how successful professional sports can be in that market. We really look forward to opening day in 2028 and bringing some of the historical success of the Athletics to Las Vegas."
While the owners have approved of the team's bid to move the A's to Las Vegas, there still are several steps to be completed before the A's officially can move to Sin City, including securing approval of a stadium operating agreement and a non-relocation agreement with Las Vegas, a construction agreement, a private financing plan and new renderings for the proposed Las Vegas ballpark.
Another important question that remains unanswered is where the team will play between when their lease at the Oakland Coliseum expires after the 2024 season until their proposed ballpark is ready in 2028.
The team cleared a significant hurdle Thursday, but it's clear that there still is a long way to go.