A constellation of high-profile figures from Hollywood and the sports world are reportedly vying for the National Basketball Association's potential Las Vegas expansion team, a franchise that could command a bid exceeding $10 billion.
One prominent group, known as the Las Vegas Jacks and led by Jerry Colangelo, announced it has secured at least $8 billion in funding, with plans to potentially reach $13 billion. Colangelo, a former owner of the NBA's Phoenix Suns and a key figure in the expansion efforts for MLB's Arizona Diamondbacks and USA Basketball, is joined by former Turner president David Levy, former NBA players Vinny Del Negro and Jay Williams, among others.
This group is one of at least four entities reportedly in various stages of bidding. Bill Foley, owner of the NHL's Vegas Golden Knights, has also formally expressed interest and holds a minority stake in the T-Mobile Arena, a potential temporary home for an NBA team. Foley was instrumental in the NHL's successful expansion into Las Vegas.
Furthermore, former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner are reportedly exploring a joint bid through Thrive Eternal, an investment vehicle established by Kushner's firm. Kushner, who is a minority owner of the Miami Heat, would need to divest that stake if his bid were to proceed. A representative for Thrive declined to comment on this speculation.
Earlier this year, the Magic Johnson-backed group MAGI signaled its interest in a Las Vegas team and met with Nevada state officials, including Governor Joe Lombardo. NBA legend Shaquille O'Neal has also expressed a desire to join one of the ownership groups seeking to establish a team in the city.
Marc Lasry, former owner of the Milwaukee Bucks, is also reported to be interested in leading a bid. LeBron James, who had previously expressed interest in leading an expansion effort to Las Vegas, has since moderated his public stance.
NBA Commissioner Adam Silver indicated earlier this year that the league is "exploring" the addition of two expansion teams, with Las Vegas and Seattle identified as potential locations. The league anticipates these teams could begin play in 2028. This intense competition underscores Las Vegas's evolution from a gambling center to a significant sports and entertainment hub.
Since 2017, the city has successfully integrated several major professional sports franchises, including the WNBA's Las Vegas Aces, the NHL's Vegas Golden Knights, and the NFL's Las Vegas Raiders. The city is also slated to become home to MLB's Athletics. Las Vegas has also hosted one of the NBA's Summer Leagues annually since 2004.
In Seattle, Samantha Holloway, owner of the NHL's Seattle Kraken, is considered the leading candidate to secure an expansion team for that city. Her ownership group includes Tim Leiweke and Jerry Bruckheimer, and has recently added Melinda French Gates as a minority owner.