Monday, May 13, 2013 | 8:15 a.m.
The sale of the Las Vegas 51s to the Howard Hughes Corp. from the Stevens Baseball Group has been finalized, Howard Hughes officials announced today.
Summerlin Las Vegas Baseball Club LLC, a joint venture of Howard Hughes Corp. and Play Ball Owners Group, including investors Steve Mack, Bart Wear and Chris Kaempfer, purchased the Triple-A franchise with plans to move it from outdated Cashman Field in downtown Las Vegas to a new stadium in Summerlin.
“We see the opportunity of owning the 51s as a great way to extend our commitment to the entire Las Vegas Valley,” David R. Weinreb, chief executive officer of the Howard Hughes Corp., said in a statement. “We will work to ensure that the baseball experience in Las Vegas is among the best and look forward to an exciting new era for the team, their fans and followers.”
The Sun last year reported a sale price at $20 million when Howard Hughes Corp., the majority stakeholder, became involved in plans to purchase the team. It didn’t release figures in Monday’s statement.
Cashman Field is the 27th oldest of 30 Triple-A facilities and lacks amenities such as indoor batting cages and rehabilitation equipment.
Howard Hughes Corp. already owns the land for the proposed stadium, which is near the Red Rock Resort at Charleston Boulevard and the 215 Beltway. The proposal is for $50 million to $60 million, and investors previously said they would seek some public money. If all goes as planned, the earliest the team could move to Summerlin would be for the 2015 season.
“This is a big day for everyone that lives in Las Vegas who loves the 51s, baseball and sports,” Mack said in a statement. “For the first time in 20 years, ownership is represented by owners who live here, invest in this community and believe that the 51s are an essential part of future development of the Las Vegas fabric.”