Foley Entertainment Group Announces VGK Founder Bill Foley’s Bid to Bring NBA Franchise to Las Vegas
Bill Foley has retained Morgan Stanley and may add investors as he builds on his Golden Knights sports holdings, with a franchise fee estimated at $7-10 billion.
- On Monday, Vegas Golden Knights owner Bill Foley officially launched a bid to bring an NBA expansion team to Las Vegas, retaining Morgan Stanley to help build an ownership platform.
- The NBA Board of Governors authorized exploring expansion in Las Vegas and Seattle in March, prompting Foley's pursuit; he aims to replicate the Golden Knights' success, which included three Stanley Cup Final appearances.
- Foley plans to host the team at T-Mobile Arena, proposing $300 million in renovations for the 18,000-seat venue, while an expansion franchise could carry a $7-10 billion fee according to multiple reports.
- Competition remains stiff, with at least two other ownership groups interested in the franchise; The MAGI, led by Basketball Hall of Famer Earvin 'Magic' Johnson, announced its pursuit in March.
- The NBA expects to decide on expansion by the end of this year, with NBA Commissioner Adam Silver scheduled to address the topic during Board of Governors meetings in Las Vegas next month.
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16 Articles
Golden Knights Owner Bill Foley Formally Launches Expansion Bid to Bring NBA Franchise to Las Vegas
LAS VEGAS, NV — Billionaire sports magnate William P. (Bill) Foley II has officially unsealed a massive, high-stakes campaign to bring a permanent National Basketball Association (NBA) expansion franchise to the valley floor. The strategic rollout positions the architect behind Southern Nevada’s professional sports boom to aggressively capture the market’s next evolution. Building on a Proven Championship Blueprint Foley Entertainment Group (FEG…
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swxlocalsports.comFoley Entertainment Group Announces VGK Founder Bill Foley’s Bid to Bring NBA Franchise to Las Vegas
LAS VEGAS, June 23, 2026 (GLOBE NEWSWIRE) -- Foley Entertainment Group (FEG) confirmed today that Chairman William P. (Bill) Foley II, founder and majority owner of National Hockey League (NHL) team Vegas Golden Knights (VGK), is pursuing the award of…
Owner of NHL's Knights launches bid for Vegas NBA expansion franchise
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