Bryan Cave LLP is pleased to announce that its clients The Howard Hughes Corporation and Las Vegas 51s have entered into a historic, 20-year, $80 million naming rights agreementwith the Las Vegas Convention and Visitors Authority (LVCVA) for the 51s new Las Vegas Ballpark. The transaction, led by Steven Smith, co-leader of the Bryan Cave’s Sports and Entertainment Group, is by far the largest naming rights deal in minor league baseball. Under the terms of the deal, LVCVA will pay the Las Vegas 51s $4 million annually beginning in the 2019 fiscal year, extending into 2038.
The $150 million Las Vegas Ballpark will be located in the Summerlin, Nevada, which is also home to the National Hockey League's Vegas Golden Knights. The 10,000-seat and 22-suite stadium, which is still under design, will be known as Las Vegas Ballpark. Among the projected amenities, the new facility is anticipated to have a center field pool, kids’ zone and several bars. Ground is expected to be broken on the open-air stadium late this year or early 2018, with play beginning in the 2019 season.