Bill Foley, founder and majority owner of the Vegas Golden Knights, has announced a bid to bring an NBA team to Las Vegas. The move comes as the NBA explores possible expansion focused on Las Vegas and Seattle, though no franchise has been awarded.
Foley’s group has lined up Morgan Stanley as financial adviser and Simpson Thacher & Bartlett as legal counsel. According to the report, he expects to add a small group of strategic and minority partners who fit the long-term plan and league ownership requirements.
The proposed team would play at T-Mobile Arena, which already hosts major basketball events and seats about 18,000 for the sport. Foley’s case is built partly on his Golden Knights track record, including the franchise’s rapid rise and 2023 Stanley Cup win.
Las Vegas has become a much larger sports market over the past decade, adding the Golden Knights, Aces, Raiders, Formula 1 and a planned MLB arrival for the Athletics. The key question now is whether the NBA sees that momentum, and Foley’s ownership profile, as enough to support another major franchise.
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