The Las Vegas Jacks ownership group has been working on putting together a bid for a Southern Nevada NBA expansion team since January 2024, according to people with knowledge of the group’s operations.
The Jacks announced their plans to pursue a Las Vegas NBA expansion team this month, but years of work has preceded that announcement for the group that includes former NBA owner Jerry Colangelo, former NBA player and coach Vinny Del Negro, chairman and managing partner of Prime Capital Financial Scott Colangelo, media executive David Levy, American Century Investments CEO Jonathan Thomas and former NBA lottery pick and current ESPN analyst Jay Williams. Jerry and Scott Colangelo are not related.
Stakeholder relations
Members of the group have had numerous meetings with various state and local elected officials, resort leaders, the Metropolitan Police Department and others to ensure they have a bid worthy of Las Vegas and the NBA, according to sources.
The Jacks’ name isn’t a lock to be the team’s name should the group prove successful in the bid process, but they trademarked the name last year just in case it sticks, the sources said. The group is open to having the residents of Southern Nevada chime in on what they think the team’s name should be, including the Jacks.
Jerry Colangelo
Jerry Colangelo’s name carries weight in basketball circles with his extensive history in the NBA and pro sports in general, with a career beginning in the 1960s. Colangelo once owned the NBA’s Phoenix Suns, MLB’s Arizona Diamondbacks when they started as an expansion team and the WNBA’s Phoenix Mercury, and was managing director of USA Basketball, leading the charge there between 2005 and 2021.
Jerry Colangelo was brought on as an adviser early in the Jacks’ Las Vegas endeavor, but after seeing their progress, he wanted to officially join the group’s pursuit of a Las Vegas NBA expansion team, the sources said.
Arena plans
The group is looking to build a new state-of-the-art arena on the Las Vegas Strip, and renowned architect David Manica, whose firm, Manica Architecture, has helped design several sports facilities, including Allegiant Stadium, has been brought on board to design the Jacks’ arena vision, the sources indicated.
The arena would be technology focused and aimed at being the top sports facility in the city. The arena project also would include access to another dozen courts where special events such as international basketball tournaments could be held.
With the NBA eyeing potential expansion teams to begin playing in the 2028-29 season, the Jacks would plan to begin playing temporarily at T-Mobile Arena, a possibility Golden Knights owner Bill Foley said he would support.
$13 billion raise
The Jacks leadership has met with representatives of the various Las Vegas NBA expansion bid groups, the sources indicated. The gist of those talks was more out of mutual respect for the groups, but if the scenario is right, there could be an opportunity for the Jacks to collaborate with members of other groups should it make sense to the NBA expansion team bid.
The Jacks are looking to raise around $13 billion in total for their NBA expansion bid, with $5 billion already committed and another $3 billion formerly indicated, the group’s bid announcement detailed.
End of year decision
NBA Commissioner Adam Silver said this week in Las Vegas that the league remains on track to have a decision on whether it plans to expand to Las Vegas and/or Seattle by the end of the year. The expansion process is likely set to continue for the next several months, with a decision expected to come down in December, sources said.
The Jacks are among four ownership groups that have been made public, but Silver noted that the majority of the bidding groups have elected to remain anonymous to this point. The other publicly known groups include The MAGI, led by Earvin “Magic” Johnson, a group led by Foley dubbed the Vegas Wants the NBA group and one led by former Walt Disney CEO Bob Iger and venture capitalists Joshua Kushner.
“I really appreciate what we’re seeing so far, and so it’s very encouraging,” Silver said during his media availability this week at NBA Summer League. “No votes have been taken yet. We’ve got a ways to go still in terms of those discussions with interested parties, but I’m optimistic about the future here.”
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.
