LAS VEGAS (KTNV) — A new ownership group has entered the building, wanting to bring an NBA expansion team to Las Vegas.
The Las Vegas Jacks, led by basketball Hall of Famer Jerry Colangelo, has guaranteed $5 billion toward building a future franchise. The group joins Vegas Golden Knights owner Bill Foley and other rumored groups vying to land an expansion team in the valley.
WATCH | Alex Eschelman explains the newest group looking to land an NBA team in Las Vegas:
In an official statement Wednesday, the Las Vegas Jacks outlined their priorities:
“Our team is focused on executing on three very distinct levels,” Scott Colangelo said. “Raise the entirety of the capital in cash with exceptional business leaders. Build the most impressive state of the art basketball arena in the world. And be part of a group committed to giving the city of Las Vegas what they deserve, exceptional. Not good or great. Exceptional."
NBA Summer League in Las Vegas has reached a new level of excitement this season to go along with the ownership battle.
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NBA Summer League returns to Las Vegas amid NBA expansion talks
"There's nothing like it," one NBA fan said. "You come here and you've got basketball, you've got these new guys coming up and you get to see all of the new talent."
"I like how I'll be able to see more NBA games because every team is at least four or five hours away from me," another fan said.
“Basketball has become a global sport to levels never seen before,” Colangelo said. "My excitement for this project and for our Jacks’ vision is right up there in terms of my career. We all are committed and working as hard as we can to bring the league, owners and the fans, the best proposal and end product possible to Las Vegas.”
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NBA Summer League tips off Thursday at 12:30 p.m. and runs through July 19 at UNLV's Thomas and Mack Center.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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