​The Las Vegas Jacks, a coalition vying to secure the potential NBA expansion franchise, has announced that it has already amassed a staggering eight billion dollars in financial commitments aimed at landing the team. This ambitious fundraising milestone signals a strong level of early confidence and demonstrable backing from a diverse set of financial supporters and industry insiders, underscoring the group’s readiness to move quickly should the league grant an expansion slot.
Leading the charge is a high-profile trio with deep-rooted experience in basketball, finance, and sports entrepreneurship. First among them is Jerry Colangelo, renowned for his tenure as the former owner of the Phoenix Suns and for his extensive leadership roles within professional basketball. Colangelo’s track record as a builder and stabilizer in the sport brings a wealth of executive know-how, a broad network of league and team executives, and a proven ability to develop championship-caliber franchises. His involvement is often viewed as a signal of credibility and strategic vision, given his history of guiding franchises through complex ownership transitions and market expansions.
Joining Colangelo is David Levy, a prominent figure in the sports and entertainment industry who founded Horizon Sports & Experiences. Levy’s background encompasses managing major sports properties, creating engaging experiential platforms, and forging strategic partnerships that amplify both brand value and audience reach. His expertise in crafting compelling consumer experiences and negotiating high-stakes sponsorships positions him as a vital asset in shaping a financially viable and culturally resonant franchise presence in a dynamic market like Las Vegas.
Completing the leadership lineup is Scott Colangelo, who serves as the managing partner at Prime Capital Financial. In this capacity, Colangelo brings a sophisticated understanding of capital markets, investment strategies, and financial structuring. His role concentrates on aligning the group’s investment thesis with practical capital deployment, ensuring that the franchise plan remains financially sound, scalable, and attractive to limited partners, lenders, and potential co-investors. The combination of Colangelo’s financial acumen with the strategic vision of Levy and the operating experience of Jerry Colangelo creates a leadership sandwich of governance, growth, and disciplined execution.
The group has articulated a clear intention to couple their capital commitments with top-tier financial partners who can support both the acquisition phase and the ongoing operations of an NBA franchise. United behind the project are US Bank and its subsidiary BTIG LLC, both of which bring robust corporate banking, advisory, and investment capabilities to the table. Their involvement signals a readiness to engage in sophisticated financing structures, including leveraged financing, credit facilities, and structured debt solutions that can underpin a major franchise acquisition while preserving liquidity for future investment in team development, facilities, and community initiatives.
In addition to the bank and brokerage support, the group has onboarded merchant bank Global Leisure Partners to serve as a financial partner. Global Leisure Partners has a well-established track record in advising on high-profile leisure, entertainment, and sports investments, including sponsorship negotiations, asset acquisitions, and strategic dispositions. Their participation is expected to bring strategic advisory services that help the Jacks optimize deal terms, evaluate market dynamics, and navigate regulatory and league-specific considerations that accompany franchise acquisitions.
The announcement of eight billion dollars in committed capital is being positioned as evidence of a serious, well-capitalized bid that aims to align with the stringent financial, branding, and operational standards of the NBA. The Las Vegas Jacks’ bid is expected to focus on leveraging the city’s existing ecosystem to create a franchise that integrates seamlessly with Las Vegas’s unique market dynamics, tourism footprint, and global accessibility. The group’s strategic plan is likely to emphasize a robust revenue model that capitalizes on diversified income streams, including ticketing, premium seating, media rights, sponsorships, tourism-linked activations, and community engagement initiatives designed to build a sustainable, long-term franchise footprint.
From a branding perspective, the effort to establish a Las Vegas presence for an NBA team will require a distinctive identity that resonates with both local fans and the broader league audience. The leadership’s track record suggests a focus on building a compelling club culture, strong fan engagement, and durable community relationships. By integrating Levy’s experiential playbook with Colangelo’s franchise-building experience and Scott Colangelo’s financial execution capabilities, the group can pursue a strategy that balances immediate competitive aspirations with longer-term brand equity creation. The financial architecture they’ve outlined, supported by US Bank, BTIG LLC, and Global Leisure Partners, will be central to delivering a believable, credible bid that meets the NBA’s rigorous ownership and financing criteria.
As the process to evaluate expansion candidates progresses, the Las Vegas Jacks’ substantial capital commitments and high-caliber leadership team position them as a formidable player in the race for an NBA expansion slot. Their approach appears to combine substantial liquidity with sophisticated financial engineering, structured to withstand the scrutiny that accompanies league approvals and to deliver a stable pathway from bid submission to team launch. The collaboration with established financial institutions and advisory firms indicates a serious intent to fulfill every requirement set forth by the NBA’s expansion framework, including governance, stadium development plans, community impact provisions, and long-term competitive strategies.
In sum, the Las Vegas Jacks’ public assertion of securing eight billion dollars in funding, paired with the recruitment of respected basketball and financial executives, and the engagement of prominent financial partners, marks a pivotal moment in their bid. If their plans translate into a formal franchise acquisition offer that aligns with the NBA’s standards, this group could become a leading contender in the competition for a new Las Vegas-based NBA franchise, reshaping the city’s sports landscape and contributing to the league’s evolving expansion narrative.