LAS VEGAS, Nev. (FOX5) – The City of Las Vegas said there were no bids during the auction for Cashman Field.
The City of Las Vegas opened starting bids at $33.9 million. The center, which is 50.25 acres and adjacent to downtown Las Vegas, is home to Lights FC.
City officials say bidders wanted a 90 to 120-day period included in the contract for the land to seek land entitlements.
Essentially, this means the bidders wanted time to approve their use of the land before the sale goes through. If it’s not approved, the bidder would not be entitled to the purchase.
Despite no bids, the city said they saw “significant” interest from multiple parties.
The city says at a city council meeting, they will discuss bidder’s feedback to include the entitlement clause and then will likely put the property back for auction in January.
However, the two city council members don’t officially take office until December 4.
Copyright 2024 KVVU. All rights reserved.
