Debacle Update: A’s President Flees Sinking Ship, Bally’s Begs for Backers

By Scott Roeben, on December 30 2024
3 min read 5 comments
Las Vegas

The ongoing A’s debacle continues debacling with news the team’s president, Dave Kaval, is resigning. Or as our fellows youths said in the 16th century, the rats are fleeing a sinking ship, verily.

To further cement the fact the A’s Las Vegas relocation is pure fantasy, Bally’s Corp. announced it needs money for its Chicago casino. You know, panhandling, but without the “Kick me in the nuts, $10” sign.

Basically, the imaginary A’s ballpark is $1.5 billion short of funding, and the resort planned for the Trop site is 100% short of funding, and all the things we said aren’t happening are still not happening. Think of the A’s deal as being like the “hawk tuah” girl’s cryptocurrency fiasco, just without the personality and helpful sex advice.

Remember those senators who sold off their stock because they knew about COVID before the rest of us? Just saying.

Despite our disdain for lending any credence to the misguided belief the A’s move is still Vegas-related, we feel compelled to provide some additional details.

As mentioned in the official announcement of Kaval’s resignation, he’s presumably leaving the team to pursue “business opportunities” in California. Kaval’s last day is Dec. 31, 2024.

Sandy Dean will serve as the A’s Interim President, and the club will begin a search for a new leader/huckster in the new year.

Dave Kaval was one of the people who helped dupe Las Vegas officials and lawmakers into donating $380 million in public financing to the alleged ballpark project.

Kaval was at the forefront of the many failed attempts to keep the A’s in Oakland, and was a key reason our casino industry sources have described A’s ownership and management as “not serious people.”

The team and Kaval are positioning his departure as perfect timing given a super successful meeting on Dec. 5, 2024 with the Las Vegas Stadium Authority where the agency rubber stamped various pieces of paper saying everything is awesome and John Fisher is good for his $1.5 billionish contribution to the project.

There were people who believed this letter was real, despite our use of Comic Sans. Related: We’re all doomed.

The truth is Kaval is getting while the getting is good. If he believed the A’s relocation to Las Vegas was actually happening, he’d be sitting pretty and reveling in his contribution to what’s being heralded as the best thing that’s ever happened to Las Vegas, ever.

Instead, Kaval is bailing before the whole charade implodes like the Tropicana. He’s distancing himself before the deal inevitably falls through, a stink that will stick to everyone involved when the shit hits the fan.

The A’s have zero investors, and have only managed to scrounge up a $300 million bank loan for a project that is likely to cost $2 billion or more.

The perfect partner for a delusional baseball team owner? An equally delusional casino company.

As we have said endlessly, Bally’s Corp. does not have the resources to build a multibillion-dollar resort in Las Vegas or anywhere else.

Bally’s has been forced to offer a 25% equity stake in its floundering Chicago casino project. Because it has no money. We told you, but you don’t listen.

If the “25% equity stake” scenario sounds familiar, it’s because the A’s are offering the same thing. The team has been shopping a $500 million stake in the franchise for a 25% share of the team. They’ve been offering that once-in-a-lifetime deal since April 2024 with the assistance of Galatioto Sports Partners.

There have been no takers.

That’s because the team isn’t worth $2 billion.

The A’s and Bally’s Corp. live in a fantasy world and virtually nobody’s calling them on their blatant and ongoing bullshit.

If anything, our local Las Vegas media is complicit in the smoke and mirrors, with daily stories detailing all the progress that’s being made and never, ever questioning any of the whimsical “facts” it’s force fed.

Recap: The A’s ballpark isn’t happening in Las Vegas under the current ownership. The Bally’s Corp. resort isn’t happening.

Yes, sports are boring. Sports-related drama, not so much.