Prospective owners of a Las Vegas NBA expansion franchise could face total expenses reaching $11 billion to $12 billion or more, with the city’s arena situation representing a significant part of the investment.
Beyond paying the expansion fee, the successful ownership group may need to construct a new basketball venue, which could cost approximately $2 billion.
Another possibility involves renovating T-Mobile Arena, the current home of the Vegas Golden Knights and a recent host of the NBA Cup semifinals and championship game.
Golden Knights owner Bill Foley, who is among the bidders seeking an NBA franchise, has estimated that the existing facility would require approximately $400 million in improvements.
NBA Commissioner Adam Silver addressed the different arena proposals last month, confirming that both options have attracted interest.
“There is real excitement around a renovated T-Mobile Arena,” said Silver.
“I think everyone acknowledges if a team were to stay there, it needs some significant improvements. But at the same time, there are groups who have presented plans to build what I would call a modern entertainment palace in Las Vegas.
“It’s a unique market where you could truly see essentially 365-days-a-year activity.”
The league continues reviewing the proposals as it considers introducing an NBA franchise in Las Vegas, with the team’s potential starting date also under discussion.
