{"id":267827,"date":"2024-12-30T23:53:11","date_gmt":"2024-12-30T23:53:11","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/30\/debacle-update-as-president-flees-sinking-ship-ballys-begs-for-backers\/"},"modified":"2025-06-25T17:09:52","modified_gmt":"2025-06-25T17:09:52","slug":"debacle-update-as-president-flees-sinking-ship-ballys-begs-for-backers","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/30\/debacle-update-as-president-flees-sinking-ship-ballys-begs-for-backers\/","title":{"rendered":"Debacle Update: A’s President Flees Sinking Ship, Bally’s Begs for Backers"},"content":{"rendered":"

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\n By Scott Roeben<\/a>, on December 30 2024 <\/span><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

The ongoing A\u2019s debacle continues debacling with news the team\u2019s president, Dave Kaval, is resigning<\/a>. Or as our fellows youths said in the 16th century, the rats are fleeing a sinking ship, verily.<\/p>\n

To further cement the fact the A\u2019s Las Vegas relocation is pure fantasy, Bally\u2019s Corp. announced it needs money<\/a> for its Chicago casino. You know, panhandling, but without the \u201cKick me in the nuts, $10\u201d sign.<\/p>\n

Basically, the imaginary A\u2019s 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\u2019t happening are still not happening<\/a>. Think of the A\u2019s deal as being like the \u201chawk tuah\u201d girl\u2019s cryptocurrency fiasco, just without the personality and helpful sex advice.<\/p>\n

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Remember those senators who sold off their stock because they knew about COVID before the rest of us? Just saying.<\/figcaption><\/figure>\n

Despite our disdain for lending any credence to the misguided belief the A\u2019s move is still Vegas-related, we feel compelled to provide some additional details.<\/p>\n

As mentioned in the official announcement of Koval\u2019s resignation, he\u2019s presumably leaving the team to pursue \u201cbusiness opportunities\u201d in California. Koval\u2019s last day is Dec. 31, 2024.<\/p>\n

Sandy Dean will serve as the A\u2019s Interim President, and the club will begin a search for a new leader\/huckster in the new year.<\/p>\n

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.<\/p>\n

Kaval was at the forefront of the many failed attempts to keep the A\u2019s in Sacramento, and was a key reason our casino industry sources have described A\u2019s ownership and management as \u201cnot serious people.\u201d<\/p>\n

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<\/a> various pieces of paper saying everything is awesome and John Fisher is good for his $1.5 billionish contribution to the project.<\/p>\n

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There were people who believed this letter was real, despite our use of Comic Sans. Related: We\u2019re all doomed.<\/figcaption><\/figure>\n

The truth is Kaval is getting while the getting is good. If he believed the A\u2019s relocation to Las Vegas was actually happening, he\u2019d be sitting pretty and reveling in his contribution to what\u2019s being heralded as the best thing that\u2019s ever happened to Las Vegas, ever.<\/p>\n

Instead, Kaval is bailing before the whole charade implodes like the Tropicana. He\u2019s distancing himself before the deal inevitably falls through, a stink that will stick to everyone involved when the shit hits the fan.<\/p>\n

The A\u2019s 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.<\/p>\n

The perfect partner for a delusional baseball team owner? An equally delusional casino company.<\/p>\n

As we have said endlessly, Bally\u2019s Corp. does not have the resources to build a multibillion-dollar resort in Las Vegas or anywhere else.<\/p>\n

Bally\u2019s has been forced to offer a 25% equity stake<\/a> in its floundering Chicago casino project. Because it has no money. We told you, but you don\u2019t listen.<\/p>\n

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Today\u2019s visual metaphor for the imaginary Bally\u2019s resort not coming to the Trop site. pic.twitter.com\/HO1poAMyl6<\/a><\/p>\n

\u2014 Vital Vegas (@VitalVegas) December 19, 2024<\/a><\/p>\n<\/blockquote>\n

If the \u201c25% equity stake\u201d scenario sounds familiar, it\u2019s because the A\u2019s 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\u2019ve been offering that once-in-a-lifetime deal since April 2024 with the assistance of Galatioto Sports Partners.<\/p>\n

There have been no takers.<\/p>\n

That\u2019s because the team isn\u2019t worth $2 billion.<\/p>\n

The A\u2019s and Bally\u2019s Corp. live in a fantasy world and virtually nobody\u2019s calling them on their blatant and ongoing bullshit.<\/p>\n

If anything, our local Las Vegas media is complicit in the smoke and mirrors, with daily stories detailing all the progress that\u2019s being made and never, ever questioning any of the whimsical \u201cfacts\u201d it\u2019s force fed.<\/p>\n

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The Sacramento A\u2019s are coordinating plans for an imaginary ballpark with plans for Bally\u2019s Corp.\u2019s imaginary resort so everything is peachy and nevermind that $1.5 billion financing shortfall and the A\u2019s president jumping ship. https:\/\/t.co\/FMZWBXN1AN<\/a> pic.twitter.com\/r3oPA7qWhM<\/a><\/p>\n

\u2014 Vital Vegas (@VitalVegas) December 30, 2024<\/a><\/p>\n<\/blockquote>\n

Recap: The A\u2019s ballpark isn\u2019t happening in Las Vegas under the current ownership. The Bally\u2019s Corp. resort isn\u2019t happening.<\/p>\n

Yes, sports are boring. Sports-related drama, not so much.<\/p>\n<\/p><\/div>\n