Vegas Golden Knights owner Bill Foley says it’s “highly likely” he will team up with another investor group to bring an NBA expansion team to Las Vegas, Las Vegas Weekly reports.

Owner Bill Foley, Mark Stone, Brayden McNabb, and Jack Eichel celebrate with the Stanley Cup during a victory parade for the Vegas Golden Knights on the Las Vegas Strip in June, 2023. Foley is heading an ownership group interested in an NBA team for Vegas. (Image: Jeff Bottari/NHLI via Getty Images)

The NBA’s Board of Governors voted to formally explore expansion to Las Vegas and Seattle during meetings in New York on March 25, 2026. Since then, several powerhouse ownership groups have stepped forward.

Among them is Bill Foley’s group, looking to build on his local sports empire. Other major contenders include a consortium led by Jerry Colangelo (dubbed the “Las Vegas Jacks”) and another fronted by NBA legend Earvin “Magic” Johnson—both of whom are proposing brand-new, state-of-the-art arenas.

The race to secure a franchise was front and center during NBA Commissioner Adam Silver’s annual Summer League press conference on July 14 at the Thomas & Mack Center.

Foley’s Golden Knights NHL franchise, which entered the league in 2017 and won a Stanley Cup in 2023, is fresh off another deep postseason run, having just lost to the Carolina Hurricanes in the 2026 Stanley Cup Final

Foley Eyes NBA Future

With the price tag for an NBA expansion team expected to land between $7 billion and $10 billion, Foley’s existing stake in T-Mobile Arena could give him a major head start. Moving an expansion team into an already-operational venue would allow the franchise to get up and running almost immediately.

Foley revealed a $400 million plan to renovate T-Mobile Arena to make it more NBA-friendly, which would include adding 1,000 seats and upgrading luxury suites. He pointed to other dual NHL/NBA owners who successfully run both franchises out of a shared facility.

However, Foley told the Weekly his group has also contacted three or four other interested investment parties about potentially consolidating their efforts—including those looking at land to build a brand-new arena. He hasn’t ruled out a new build as the final outcome.

Silver Praises Las Vegas

During his press conference, Commissioner Silver confirmed that the level of interest from both public and private investor groups has been “music to my ears.”

“Multiple serious groups are in the process of presenting plans to our bankers,” Silver said. “Those plans not only include who the potential owners would be, but their vision for what Las Vegas basketball would look like, where they would play, and how they would present the game. This city has become an entertainment hub globally.”

While Silver noted that “no votes have been taken yet,” he expressed immense optimism, pointing to the city’s thriving basketball ecosystem—including the WNBA’s Las Vegas Aces, grassroots youth foundations, and the massive popularity of the Summer League.

Silver reiterated that the league is focusing solely on Las Vegas and Seattle for this expansion cycle, with a final decision expected “by the end of the year.”

Sports Betting Scrutinzed

The conversation took a serious turn when Silver was asked about sports betting, a hot-button issue following high-profile gambling scandals. Former players Malik Beasley and Terry Rozier are currently facing legal trouble over allegations of manipulating on-court performances to cash in on prop bets.

Silver addressed a scenario recently floated by Forbes: the creation of a federal sports betting commissioner with investigative and subpoena powers, operating alongside a multi-league coalition to protect sports integrity. Silver has historically favored a singular federal oversight framework over the current patchwork of state laws.

“I think it puts the league in a difficult position when we’re dealing essentially now with 40 different jurisdictions,” Silver admitted. “The idea of having a czar or commissioner… would be very helpful. We have remarkably little control over how our intellectual property is used. We don’t get to make decisions as to whether prop bets can be placed, and what kinds. The ‘unders’ are the most problematic in our league.”

“I think ideally that we would be a party to that, and if it’s a coalition with the other leagues, even better. We recognize this is a form of entertainment, but people can get in over their heads fairly quickly, and those kinds of controls need to be in place,” he added.

McGregor Eyes UFC Return

Conor McGregor posted another Instagram video overnight, reaffirming what he has already said: he will return to the Octagon after Saturday night’s (July 11) stunning loss to Max Holloway in their welterweight UFC 329 fight at T-Mobile Arena.

McGregor, making his much-ballyhooed return after a five-year absence from UFC, suffered a catastrophic right leg injury 69 seconds into the fight, believed to be a right ACL injury. He has said he will undergo surgery, then begin rehabilitation with eyes on a return.

Saturday’s fight made a lot of money for sportsbooks. BetMGM’s trading manager Alex Rella said it was the most-bet MMA event in BetMGM history.