Vegas Golden Knights Owner Becomes First to Bid for Vegas NBA Expansion Team
Posted on: June 22, 2026, 04:46h.
Last updated on: June 22, 2026, 04:46h.
- Billionaire Vegas Golden Knights owner Bill Foley has submitted the first formal bid for a Las Vegas NBA expansion franchise
- Foley’s proposal leverages his existing local infrastructure, including a stake in T-Mobile Arena and a proven sports track record
- The NBA is expected to decide on the multi-billion dollar Las Vegas and Seattle expansions by the end of the year
Vegas’ sports landscape took another sharp turn upward this week as Bill Foley — the billionaire owner of the Vegas Golden Knights — submitted the first formal bid for an NBA expansion franchise in Las Vegas. Foley, 81, confirmed the move in a statement Monday, positioning himself as the most prepared contender in what is expected to become a high‑stakes ownership race.
“Las Vegas has earned its place among the great sports cities in America, and an NBA team belongs here,” he said, adding that his group intends to be “ready the day the NBA is ready.”
As expected, the bid leans heavily on the infrastructure Foley already controls. Through Black Knight Sports & Entertainment, he owns the Golden Knights — the 2023 Stanley Cup champions — and holds a minority stake in T‑Mobile Arena, where the team would play.
Foley’s organization has operated a top‑tier franchise in the market since 2017, and he believes that track record gives him a decisive advantage.
“We built the Golden Knights into a championship organization from the ground up, and we are prepared to do it again — with the same standard, the same commitment to this community, and the same insistence on winning,” Foley said.
To bolster the bid, Foley has hired Morgan Stanley as his exclusive financial adviser and retained Simpson Thacher & Bartlett as legal counsel. The ownership platform he’s assembling will include a small group of strategic and minority partners, mirroring the structure of many modern NBA ownership groups.
His proposal also includes the possibility of constructing a dedicated practice and training facility for the new team — similar to the Las Vegas Aces’ complex in nearby Henderson.
No Commitment Yet
The NBA formally opened the expansion review process in March, identifying Las Vegas and Seattle as the two markets under consideration. The league has not committed to expansion yet, but Commissioner Adam Silver has said a decision is expected by the end of the year. The projected expansion fee — estimated between $7 billion and $10 billion — would instantly become one of the largest in sports history.
Foley’s bid arrives exactly 10 years after the NHL awarded him the Golden Knights franchise. Under his ownership, the team reached the Stanley Cup Final in its inaugural season, won the Cup six years later, and returned to the final again this past season. They are the fastest expansion team in NHL history to reach 300 wins — a résumé Foley believes demonstrates his ability to build a competitive NBA professional sports team quickly.
T‑Mobile Arena has already hosted NBA Summer League games, the NBA’s in‑season tournament semifinals and finals, and multiple Las Vegas Aces home games. Foley has previously said he would invest roughly $300 million in upgrades to make the arena NBA‑ready, including potential redevelopment of the west VIP parking area into team facilities.
Other groups — including one led by Magic Johnson — are expected to submit bids, and at least two additional ownership teams have reportedly expressed interest. But Foley is the first to formally enter the race, and the only one with an existing major‑league franchise, an arena stake, and a proven operational footprint in Las Vegas.
Still, Foley emphasized that the final call belongs to the league. “This is the NBA’s decision to make,” he said. “Our job is to provide the league a Las Vegas option that is ready, credible, and built to last.”
With the NBA Board of Governors set to meet in Las Vegas during Summer League next month, the city may not have to wait long to find out whether Foley’s bid becomes the foundation of its next major‑league team.
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