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The NBA has received “signs of interest from multiple investor groups for new teams in Las Vegas and Seattle that the league plans to sell for as much” as $10B, according to sources cited by BLOOMBERG NEWS. The sources said that early indications show Las Vegas is “drawing more interest than Seattle.” A source said that while “no formal bids have been submitted, there’s been substantial outreach from investors.”
A new proposal for the future home of a Las Vegas NBA franchise is setting its sights on the south Strip. According to a release shared Monday, the proposed “Diamond Arena” would be located at the northeast corner of Las Vegas Boulevard and Four Seasons Drive, directly across from Mandalay Bay. The project will feature a 21,212-seat arena design with an entrance directly on the Las Vegas Strip within walking distance to more than 20,000 hotel rooms. “This isn’t just another arena project—it’s a global stage for the NBA,” said Tom Letizia, a spokesman for the Diamond Arena. “The league is looking for a long-term home in Las Vegas, and this site delivers everything needed to define the future.” This comes after the NBA Board of Governors voted to move forward with the bidding process for possible expansion teams in Las Vegas and Seattle. The “Diamond Arena” is the latest proposed site for a future franchise. “It’s moving very quickly,” Letizia said. “But Las Vegas has earned the right to have an NBA franchise in this city.”
Las Vegas Diamond Arena Positioned as Premier Site for NBA Expansion. A purpose-built, world-class venue on the Las Vegas Strip designed to deliver the NBA’s next global stage. Strategically located with unmatched access, visibility, and infrastructure, the Diamond Arena is built to define the future of NBA basketball in Las Vegas.
He also has Darius Garland, a new, in-his-prime point guard to build with, not just manage. “Having a young point guard under my tutelage is the first time I’ve really had it since Kyrie (Irving),” Lue said. “It’s gonna be fun.” That distinction matters most with Garland. After Tyronn Lue was fired by the Cavaliers in 2018, Klutch Sports CEO Rich Paul introduced him to Garland, then just 19 and newly drafted. They crossed paths again months later at a Las Vegas comedy show during Garland’s first NBA Summer League. “We went to the Dave Chappelle show in Vegas, and we just hit it off right there,” Garland told The Athletic. “It just happened naturally, really.”
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The NBA could be next to join, as the league is officially exploring expanding to Las Vegas and T-Mobile Arena could find a new tenant, should a franchise be awarded to the city. Part of the exploration process will be nailing down the ownership group, who would be ready to pay the reported between $7 billion and $10 billion expansion fee — and determining where the expansion franchise would play their home games at. Knights owner Bill Foley, who owns a partial stake in T-Mobile Arena, has stated that he is interested in pursuing ownership of an NBA expansion team and that he’s looking at renovating T-Mobile Arena to the tune of $300 million.
Quinn said that T-Mobile was built with both the NHL and NBA in mind and they are ready to host an NBA team should the city land one and the potential ownership group chooses to make the 10-year-old arena home. If that were the case, Quinn agreed that some upgrades would be in order. “The big thing would be if we were lucky enough to host an NBA team, we’ve got some pretty interesting, pretty cool plans of things we could do to enhance the building,” Quinn said. Penhollow said if an NBA team was added, they’d likely hope for similar additions to the arena that the Knights would ask for. From the potential of upgrading LED screens and ribbon boards, to enhancing the food and beverage experience and looking at adding more premium seating, Penhollow is excited to play a part in planning the future of the decade-old facility.
Las Vegas Mayor Shelley Berkley plans to meet with NBA commissioner Adam Silver next week to pitch downtown as the possible site for a professional basketball arena. “Next week I have Zoom meeting with Adam Silver, who’s the head of the NBA and I want to welcome him, tell him about my basketball past, and I just know this is going to be so extraordinary for our city,” Berkley said during a Thursday news conference.
During the Zoom with Silver, Berkley plans to pitch a site in downtown that she thinks would be a perfect fit for an NBA arena, noting Clark County has become a hub of the pro sports action, with the Knights at T-Mobile Arena, the Raiders at Allegiant Stadium, the Aces at Mandalay Bay and the Athletics soon to call a $2 billion ballpark home at the intersection of Tropicana Avenue and Las Vegas Boulevard.
The site Berkley pitched is a 20-acre plot located near City Hall, by the World Market Center that is owned by asset manager Blackstone. “It’s near a freeway, it won’t be as congested (as) on the Strip,” Berkley said. “It’s an alternative that they may want to examine, and I’m not sure that anybody has proposed it yet.” Berkley also wants to use the meeting to get to know Silver, whom she has yet to meet. She plans to invite Silver to her office the next time he visits Southern Nevada. Berkley said she comes from a basketball family; her father used to play pick-up basketball with NBA legend Bob Cousy in upstate New York when she was a child.
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Maxime Aubin: News from Noa Essengue, whom I saw in San Antonio last night: The French rookie of the Bulls (19 years old) has fully recovered from his shoulder surgery in December. He resumed individual contact training three weeks ago, and should resume team training by the end of April. He is ahead of his schedule, with the goal of making his big return with the Bulls during the Summer League in Las Vegas, in mid-July.
Boxing great Floyd Mayweather said he’s not sure he’s still interested in being part of an ownership group of a Las Vegas NBA expansion team. After stating on multiple occasions, as recently as 2022, that he wanted ownership of an NBA team in Las Vegas, the Southern Nevada resident said that is no longer the case. “In the past, I talked about owning an NBA team, but it looks like it’s a lot of stress in the NBA being an owner,” Mayweather said Saturday during an autograph signing at the MCM retail store at the Forum Shops of Caesars Palace. “You see an owner get involved with the NBA, and he’s looking happy. Then as years progress, he’s looking older. So, I don’t know.”
Mayweather is all for the recent boom in the city that he’s called home for three decades. “I’m happy for the whole city of Las Vegas,” he said. “I’m going to stand behind the city of Las Vegas and push Las Vegas to continue to be great.” Mayweather has been seen sitting courtside at Michelob Ultra Arena for Aces games since the team’s arrival. The Aces (are) making so much noise in the WNBA,” he said. “We’ve been supporting the Aces since the beginning, and we will continue to support all professional teams in Las Vegas.”
Why is Vegas ready to have an NBA franchise? Warren LeGarie: “Every time you count Vegas out, it beats your ass no matter what. It’s a place where you think, ‘You can’t build another hotel.’ Then it builds another hotel. ‘It can’t host another pro team.’ Then it hosts another pro team. It’s the proverbial “they can.” They just find a way to make it work. You don’t realize how many people actually live in Vegas. It really looks like a ‘mini-LA.’
