​The NBA expansion race is gaining momentum. On Tuesday, a group called the Las Vegas Jacks—led by former NBA owner and executive Jerry Colangelo and Horizon Sports & Experiences CEO David Levy—revealed plans to submit an expansion bid to bring an NBA franchise to Las Vegas. The lineup also features ESPN analyst and ex-Bulls point guard Jay Williams, along with Vinny Del Negro, the former Clippers coach. The group unveiled a working logo depicting a Jack playing card gripping a basketball, a symbol that aligns with the city’s gambling identity alongside the WNBA’s Aces. If awarded the bid, the Jacks intend to construct their own arena and an accompanying entertainment district.
Colangelo’s coalition says it has already secured about $8 billion to support its expansion bid, marking it as the latest party to signal interest in placing an NBA team in Las Vegas in recent weeks. The Jacks joined a growing field that includes Vegas Golden Knights owner Bill Foley, who has stated his intention to pursue an expansion bid in the city, as well as former Disney CEO Bob Iger (working with venture capitalist Josh Kushner), former Bucks owner Marc Lasry, and NBA legend Magic Johnson.
Prior to the NBA Finals, commissioner Adam Silver indicated that Las Vegas is one of two cities the league is examining for potential expansion, stating, “We’re focused on Las Vegas and Seattle. There are multiple groups interested in both cities.” While Las Vegas is attracting a robust pool of potential buyers, Seattle has moved more slowly. To date, only one publicly declared group—led by Kraken governor Samantha Holloway—has expressed explicit interest in an NBA team for Seattle.
A bidding war would be instrumental in driving up the expansion price, allowing league owners to secure more proceeds from any expansion sale. However, multiple factors could be dampening Seattle’s competition. The Seahawks are currently up for sale, and NFL attention and the uncertainty surrounding an expansion bid may deter some bidders.
Holloway’s group has been primed for a bid for years, with Climate Pledge Arena already configured with several rooms designated as “NBA Locker Room” spaces in anticipation of a return. Locating a new arena site in Seattle presents another hurdle, particularly since Holloway’s group controls a majority stake in Climate Pledge Arena. Seattle previously housed the SuperSonics from 1967 until 2008, when the franchise relocated to Oklahoma City and became the Thunder. Since the Sonics left, there have been multiple attempts to bring a team back, with Silver’s expansion exploration earlier this year reviving those discussions. Holloway is the daughter of the late billionaire David Bonderman, who once held a minority stake in the team that might have benefited from improved search optimization.