The list of groups interested in landing a Las Vegas NBA expansion team keeps growing as the league is expected to make a decision on whether to add new franchises by the end of this year.
There are now four known groups eyeing a bid for a Las Vegas expansion team, with a number of intriguing individuals included in each.
Las Vegas Jacks
The latest group, the Las Vegas Jacks, are led by former Phoenix Suns and Arizona Diamondbacks owner Jerry Colangelo. The Jacks announced Wednesday their intention to pursue a bid for a Las Vegas expansion team. Aside from his previous ownership experience, Colangelo also was the director of USA Basketball between 2005 and 2021 was the chairman of the NBA Board of Governors before that.
The group also includes former NBA player and coach Vinny Del Negro, media and banking executives and former NBA No. 2 pick and ESPN broadcaster Jay Williams.
The group would build a new arena but play at T-Mobile Arena in the interim as the NBA is aiming for expansion teams to begin playing in the 2028-29 season, if the league’s board of governors vote to add teams this year.
The MAGI
Basketball hall of famer Earvin “Magic” Johnson and his ownership group, the MAGI, were the first to announce their intentions to pursue a Las Vegas NBA franchise, telling the Review-Journal of their plans in early March.
Johnson, the former Lakers great, has minority ownership stakes in multiple teams including the Los Angeles Dodgers and the Washington Commanders. The Magi also includes sports and entertainment veteran Andre Cleveland and Las Vegas businessman Mike Bellon.
Johnson and his group met in February with local stakeholders and leaders, including Gov. Joe Lombardo, to discuss the group’s Las Vegas NBA aspirations.
Bill Foley
Golden Knights owner Bill Foley wants to add a second major league team to his Las Vegas portfolio.
In June, Foley announced a group that he is heading is planning to bid on a Las Vegas NBA expansion team.
Foley didn’t detail who he is working with on the bid but said they are able to finance and run an NBA franchise.
If Foley’s group is awarded an NBA expansion team, he would put upwards of $400 million into renovating T-Mobile Arena and build an NBA practice facility in Summerlin.
Foley’s group has hired Morgan Stanley & Co. to serve at its financial adviser during the expansion bid process.
Bob Iger group
Former Walt Disney CEO Bob Iger and billionaire venture capitalist Joshua Kushner also are reportedly interested in a Las Vegas expansion team.
Iger has ties with the NBA, having worked with the league as part of their broadcast rights deal with ESPN and ABC, which are both under the Disney umbrella.
A report last month stated the group has hired investment bankers for the potential bid, which would be made through Thrive Eternal, a company created by Kushner.
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.
