Las Vegas Officials Scrub MLS Stadium and Cashman Redevelopment Plan From Feb. 19 City Council Agenda; Private Developers Working On ‘Timing Issues’
By Alan Snel of LVSportsBiz.com
Don’t start saving up your money for Major League Soccer games in downtown Las Vegas quite yet.
The city of Las Vegas has scrubbed next week’s city council agenda of an item that would have addressed a developer’s plan to rebuild downtown’s Cashman Field into a 25,000-seat MLS stadium.
The city issued this statement Tuesday afternoon: “Despite the anticipated date, an item will not appear on the February 19 City Council agenda concerning a Major League Soccer (MLS) franchise coming to Las Vegas. Details between the private parties involved in the negotiations of a deal are still yet to be resolved. The city remains hopeful the issues can be worked out, clearing the path to establish an MLS team here. In the meantime, the Las Vegas Lights FC will continue play at Cashman as part of the United Soccer League (USL).”
City spokesman Jace Radke followed up with an email to LVSportsBiz.com explaining, “Details between the private parties (Renassaince and the Baupost Group) involved in the negotiations of a deal are still yet to be resolved.”
The Renaissance Companies Chairman Floyd Kephart and The Baupost Group, headed by billionaire investor Seth Klarman, are trying to work on a Cashman Center redevelopment proposal and MLS stadium idea for the Cashman site, which is currently used by the Las Vegas Lights soccer team for its home games in the United Soccer League. USL is a Triple A soccer league, one tier below Major League Soccer (MLS).
Renaissance/Baupost has been also negotiating with the city of Las Vegas since June on a proposed public-private partnership deal, which would potentially clear the way for a new MLS stadium — which is the headline project of a proposed redeveloped stretch of Las Vegas Boulevard from Bonanza Road to Washington Avenue.
The city was expecting to have a deal agreement ready for the Feb. 19 city council meeting for council members to discuss. But that proposed agreement is not ready and was moved from the agenda.
LVSportsBiz,.com reached Kephart by email, but didn’t get much comment. Kephart wrote, “You know I don’t comment on ongoing negotiations but good try. Short answer is it is better to get it done right than to just get it done . . . We are addressing timing issues.”
LVSportsBiz.com also reached out to Lights owner Brett Lashbrook Tuesday afternoon. Lashbrook said he supports the Renaissance/Baupost-city of Las Vegas negotiations and Mayor Carolyn Goodman’s efforts to have an MLS team in downtown. “We anxiously await a resolution,” Lashbrook said,
If the Renaissance/Baupost team can reach a deal with the city on the Cashman site and if it’s approved by city council, Baupost would purchase the Lights soccer club from Lashbrook. The council has already approved the city attorney’s office to spend up to $150,000 on legal fees for the negotiations and document work.
Meanwhile, the Lights will soon start their third season at Cashman.
Follow LVSportsBiz.com on Twitter and Instagram. Like LVSportsBiz.com on Facebook.
