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NBA Vegas Expansion Nears Decision
30 Sep
Summary
- Jerry Colangelo group is a finalist for Las Vegas NBA bid.
- Expansion teams may debut in 2028-29 season.
- Las Vegas franchise valued at $12-$13 billion.
The NBA is nearing a decision on ownership for a prospective Las Vegas expansion team. A prominent finalist is a group spearheaded by Jerry Colangelo, a former owner of the Phoenix Suns. This group includes notable figures like Bill Foley, owner of the Vegas Golden Knights, and former NBA players Jay Williams and Vinny Del Negro.
Potential expansion teams in both Las Vegas and Seattle could begin play in the 2028-29 NBA season. The financial investment for the Las Vegas franchise and a new arena is anticipated to be in the range of $12 to $13 billion. The NBA is expected to finalize its approval process by the end of December.
The Las Vegas Jacks, as Colangelo's group is known, intend to play at T-Mobile Arena, home of the Golden Knights, during the construction of a new, dedicated venue. Colangelo expressed significant enthusiasm for the project, emphasizing the group's commitment to presenting a top-tier proposal.
