https://www.youtube.com/watch?v=bM93Tiy5KsE
Oakland News Online Blog – vlog by Zennie62 YouTube. OaklandNewsOnline.com is the original blog post for this content.
For those who have wondered actually how much money the Las Vegas-bound Oakland Athletics stand to make from the ballpark at the Tropicana, the answer is a base year of $757 Million. That’s 128 percent greater than the $212 million in total revenue (which is Oakland Coliseum and then merchandise, etc.) the organization made in 2022. That $757 Million also comes to $9,432,098.77 per game over an 81 game season. That dwarfs the New York Yankees current take of what just happens to be $8,432,098.77, or by a cool million. Now, at this time you’re asking how I came to that number?
Here’s how.
The document released during the presentation by Applied Analysis for the Southern Nevada Tourism and Innovation Act, then called SB509, now called SB1, has tax revenue estimates, which served as my guide. Since those estimates are based on the Las Vegas economics consulting firm Applied Analysis and Oakland A’s assumptions regarding total ballpark revenue, all one has to do is get the tax rate and then take the final tax revenue and divide it by that tax rate to get the final number.
What I did was get the sales tax rate of 8.38 percent for Clark County, and then the business tax rate, and the other rates, which form the expected tax revenues, then made a weighted average calculation. That weighted average calculation is each rate and a rate that’s based on the share of that tax revenue from that rate and of the total. So, 8.38 percent was 72 percent of the total, and business tax was 28 percent of the total, and I left out the other smaller taxes because the difference is negligible. Bascially, the lower taxes “drag down” the larger tax rate of 8.38 percent to 7.1 percent, so I rounded that to 7 percent.
The basic formula, then, was the total tax revenues of 17 million and 36.5 milllion, which total 53.5 million for year one, divided by 7 percent, which equals $757,142,857. So, the total revenue from the ballpark for year one will be $757,142,857 using the Applied Analysis / Oakland A’s document as a basis for calculations.
Would This Have Been The Same For Howard Terminal In Oakland?
The obvious question is would this estimate have been the same if the A’s held their collective nose and defied Major League Baseball’s impatience and the City of Oakland’s over-political behavior to realize Howard Terminal? The answer is close, but just lower for the A’s. The difference is that Alameda County and California tax rates are higher and so that would be a 10.25 percent sales tax rate, versus 8.38 percent.
But if SB293 Skinner’s call for a tax increment financing district were actually implemented by The City of Oakland, the A’s would have been the partial beneficiary of a giant $800 million bond issue. And “partial“ because the $800 million in proceeds would have been used, in part, to finance community benefits and (some) off-site infrastructure improvements, in addition to the A’s infrastructure need to mitigate sea-level rise at Howard Terminal.
But the bottom line is the A’s would realize a new world of higher revenues in Oakland or Las Vegas. The City of Oakland’s constant problem of not meeting deadlines imposed by sports leagues in the matter of building stadiums in the 21st Century (but not the Warriors Arena rebuild of 1998 or the Raiders Coliseum upgrades of 1996 and the 20th Century) got it into trouble, yet again. Vegas wins.
The New Revenue Picture For The Oakland A’s In Las Vegas.
Clearly, $757 Million spells a new world of money for the Oakland Athletics in Las Vegas. Many A’s fans believe that John Fisher will not spend in accordance with this new reality. The problem with that idea is there’s no example to back their claim. If they say that, then why did they not make that claim for Howard Terminal? The fact is, Oakland A’s Fans are upset about the move, so rational thought has gone out of the window. The real blame here is the City of Oakland, and not the A’s. Picking on John Fisher because he’s rich is a terrible thing to do. Picking on Oakland’s Government is the action to take.
Oakland’s bad government habits created this scenario of bad economic development. Indeed, where was the City’s economic development boss in all of this? Producing a presentation that showed Oakland had no economic development vision, that’s where. But that’s another story of a city who’s government ineptness and overpolicization has caused it to sink to the lowest depths, losing three sports teams in just seven years. And if you count the Oakland Panthers IFL Indoor Football Team, which is now the Bay Area Panthers, that’s four pro sports teams in seven years.
Stay tuned.
via IFTTT
Note from Oakland News Now Blog, Zennie62 YouTube, and Zennie62Media: this Oakland News Online Blog video-blog post demonstrates the full and live operation of the latest updated version of an experimental Zennie62Media , Inc. mobile media video-blogging system network that was launched June 2018, originally on Zennie62Media , Inc.’s Oakland News Now. This is a major part of Zennie62Media , Inc.’s new and innovative approach to the production of news media. This is what we call “The Third Wave of Media”. The uploaded video is from a “liked” YouTube video by a vlogger with the Zennie62 on YouTube Partner Channel, then that YouTube video is uploaded to and formatted automatically at the Oakland News Online Blog site and Zennie62Media -created and owned social media pages. The overall objective is smartphone-enabled, real-time, on the scene reporting of news, interviews, observations, and happenings anywhere in the World and within seconds and not hours. Now, news is reported with a smartphone: no heavy and expensive cameras or even a laptop are necessary, thus less chance for Oakland News Online Blog, Zennie62 YouTube vloggers to be robbed. The secondary objective is faster, and very inexpensive media content news production and distribution. We have found there is a disconnect between post length and time to product and revenue generated. With this, the problem is far less, though by no means solved. Zennie62Media is constantly working to improve the system network coding and seeks interested content and media technology partners. This process is entirely within YouTube terms of service, where embedding of videos for use on websites and platforms is allowed and encouraged.