Las Vegas may be one step closer to becoming a four-sport city. Vegas Golden Knights founder and majority owner Bill Foley announced Monday that he is officially launching a bid to bring an NBA expansion franchise to Las Vegas. Positioning himself as a leading candidate in what is expected to be one of the most competitive ownership races in professional sports history.
The announcement comes just months after the NBA’s Board of Governors unanimously approved the exploration of expansion opportunities in both Las Vegas and Seattle.
According to reports, all 30 NBA owners voted in favor of moving forward with the exploratory process for expansion franchises.
Industry estimates suggest expansion fees could range anywhere from $7 billion to $10 billion per franchise, making it one of the most lucrative expansion opportunities in sports history.
Las Vegas and Seattle have long been viewed as the league’s preferred expansion destinations, with Las Vegas emerging as one of the fastest-growing sports markets in North America. Foley is now positioning himself to lead Las Vegas into the NBA era.
Building on the Golden Knights Blueprint
Since bringing the Vegas Golden Knights to Southern Nevada in 2017, Foley has overseen one of the most successful expansion stories in modern professional sports.
The Golden Knights reached the Stanley Cup Final in their inaugural season, captured the Stanley Cup in 2023, and have remained consistent contenders throughout their existence.
Foley believes that same formula can be applied to an NBA franchise. “Las Vegas has earned its place among great sports cities in America, and an NBA team belongs here,” Foley said in a statement.
“We built the Golden Knights into a championship organization from the ground up, and we are prepared to do it again with the same standard, the same commitment to this community, and the same insistence on winning.”
T-Mobile Arena Ready for NBA Basketball
One of the strongest elements of Foley’s proposal is that Las Vegas already possesses a proven NBA-ready venue. The proposed franchise would play its home games at T-Mobile Arena. Which has hosted numerous NBA preseason games, college basketball tournaments, and professional basketball showcases since opening in 2016.
The arena seats approximately 18,000 fans for basketball configurations, placing it comfortably in line with many existing NBA venues. Unlike many expansion efforts that require years of arena construction planning, Las Vegas already has a world-class facility in place.
A Growing Sports Empire
Foley’s sports ownership portfolio extends far beyond Las Vegas. The billionaire businessman, whose net worth is estimated by Forbes at approximately $2.6 billion, also owns:
- AFC Bournemouth
- FC Lorient
- Moreirense FC
- Auckland FC
To strengthen his NBA bid, Foley has retained financial giant Morgan Stanley and prominent law firm Simpson Thacher & Bartlett LLP. A firm that has previously advised NBA ownership groups including the Brooklyn Nets and San Antonio Spurs.
Las Vegas Continues Its Rise
Foley’s bid reflects just how dramatically Las Vegas has evolved over the past decade. Long known as the combat sports capital of the world, Las Vegas has transformed into one of the premier destinations for major professional sports.
The city now boasts:
- Las Vegas Raiders
- Vegas Golden Knights
- Las Vegas Aces
- The future arrival of Athletics
- The annual Las Vegas Grand Prix
Adding an NBA franchise would further cement Las Vegas as one of the premier sports markets in North America.
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Robert LaMar is a Deputy Editor for Dice City Sports. You can follow him on X via @RobertLaMar26
