Las Vegas is most likely the next city to be awarded an NBA expansion team, and those close to the process believe T-Mobile Arena is the front-runner to be the home venue.
The 20,000-seat arena, home to NHL’s Vegas Golden Knights, has met much of the league’s criteria. However, MGM Resorts International, the venue’s primary operator and 50 percent owner, and NBA officials said significant upgrades would be required for the arena to host an NBA regular season.
Meanwhile, Golden Knights owner Bill Foley has emerged as leading the ownership sweepstakes that could cost as much as $10 billion. Foley said he would invest $300 million to $400 million in renovations to bring T-Mobile up to NBA standards for an expansion franchise.
