Overview
- The Las Vegas Jacks, led by former Suns owner Jerry Colangelo, publicly launched their expansion bid on Wednesday and named partners including Vinny Del Negro, Jay Williams, David Levy and Scott Colangelo.
- The group’s materials say it is targeting $12.5 billion to $13 billion in capital, reports it has $5 billion committed and $3 billion indicated, and independent reporting cites about $8 billion in commitments.
- The Jacks plan for the team to play at T‑Mobile Arena in the short term and to develop a new, basketball‑specific arena and entertainment district as a long‑term home.
- Several other high‑profile groups remain active in the Las Vegas race — including Bill Foley’s group, Magic Johnson’s MAGI and an ownership vehicle linked to Bob Iger and Josh Kushner — and the league may encourage combining bids if warranted.
- The NBA is conducting financial vetting and presentations through the summer and fall with a Board of Governors decision targeted by the end of 2026, which would determine whether expansion proceeds for play around 2028–29 and set a large expansion fee to be divided among current owners.