4 billion dollar nba arena and resort in Vegas to be built

My first thought was that there will clearly be expansions in Vegas and Seattle lol. Also shocked everyone assumes a team is moving

 

Money would be much bigger for the league if they expanded instead of existing teams moving.

 

I vote for Silas being sent over in an expansion draft.

 

I think there's enough talent in the league to handle a couple of new expansion teams.

 

Vegas building arenas like Houston built strip malls.

https://www.bloomberg.com/news/arti...rena-casino-project-planned-by-oak-view-group

“There is zero guarantee the NBA comes to Vegas; we are well aware of that,” Leiweke said. “But if the NBA does come to Vegas, this building will be an option. It will be built to the highest specifications of the NBA.”

https://www.reviewjournal.com/business/new-arena-casino-may-be-coming-to-strips-backyard-2553546/

Interest in pursuing NBA team

The arena is planned to include suites and premium hospitality clubs and could host concerts, sporting events, family entertainment, conventions, large meetings, as well as award shows. Construction of the world-class arena is expected to generate thousands of permanent and temporary jobs.

There is no anchor sports team tied to the arena, though Leiweke said the company would be interested in pursuing an NBA franchise, if that opportunity arose.

“We would join the governor, Clark County and the business leaders and the tourism industry to aggressively pursue a franchise, should one become available,” he said. “But we’re under no belief, expectation or direction today that that’s imminent.”

“If they (the NBA) made a commitment to Vegas at some point in the future, this building will be built so that it would be spectacular for the NBA. Not just in the way that it operates, meeting and exceeding all their standards, but in a way economically it could generate revenue for an NBA team,” Leiweke added.

 

Does it say which end of the strip? Crappy Circus Circus end or EDM bro gathering spot MGM end

 

Blue Diamond Rd./Las Vegas Blvd. intersection. The proposed land area is away from the strip. if you're going to the airport from the strip on las vegas blvd. it's about 4 miles after the airport, close to the outlets shopping center

 

https://theathletic.com/3232200/202...a-already-waiting-basketball-business-digest/

The Oak View Group closed a deal on a 66-acre parcel of land in Las Vegas in late February. This month, it’s ready to announce what it one day hopes to use that for in the future.

The company, which is prominent across the sports and entertainment industries for building and managing facilities, plans to build and run an arena in Vegas that could one day draw an NBA team to town as part of a larger project that will integrate a resort and other amenities into the area. It’s an ambitious idea that has drawn interest because of who is behind it and the ceaseless assumption that the league will one day grow beyond its current 30 teams.

The tract of land sits about three miles south of Mandalay Bay, said Marc Badain, a consultant hired by the Oak View Group — and in an area he believes should soon see a significant amount of construction. Right next to the company’s 66 acres is a 110-acre plot Badain said is held by Wes Edens, the Bucks co-owner, and on which Edens one day wants to build an MLS stadium and a high-speed rail to Los Angeles. Oak View will use 25 acres for its resort and arena and the other 41 acres for what Badain said is complementary development.

The current target date to open the arena is 2026. Badain, the former president of the Las Vegas Raiders, said the project is still in the design phase. He does not dismiss the idea of the future arena, expected to hold possibly more than 20,000 seats, one day being home to an NBA team. When the arena is finished, he said it will be “NBA-ready” if the league chooses to bring a team there.

“We’re not going to be speculative,” he said. “We’re not going to be presumptive. We’re not going to make assumptions. Tim was very clear. He said, ‘We don’t get to make that decision.’ That decision is up to the 30 NBA owners and the NBA office. And (CEO) Tim (Leiweke)’s done it before, Oak View’s done it before where they’ve built a venue, and it was called tenant-ready. Partner-ready is probably better term than tenant-ready. And should the NBA decide that Vegas is a market they want to enter, they’ll have an option in our facility. If they choose it we’ll be ready for them and if they want to go somewhere else, that’s their decision to make. It’s their business. But it’ll be built to NBA specs and it will be built ready for an NBA team if they make that decision on their own.”

Expansion has long been a source of discussion around the league. It has not added a team since 2004, when the Charlotte Bobcats played their first season. Since then, the NHL has added two teams, while MLB hasn’t had a new team start playing since 1998 and the NFL since 2002.

Oak View Group management also has several ties to the league. Leiweke used to be the CEO of Maple Leaf Sports & Entertainment, which owns the Raptors. James Dolan, who owns the Knicks, has longstanding business ties with Irving Azoff, who is a co-founder of the company.

An NBA spokesman said the league has “no plans for expansion at this time.”

After decades as a taboo city across pro sports because of its status as a gambling hub, Las Vegas is now a prime candidate for professional sports leagues as they’ve come to utilize legal sports betting as revenue generators. Adding at least one new team would bring in expansion fees for the league — a sudden explosion in incoming funds for the NBA and its team governors — but could also dilute some of its existing revenue streams. The NBA will also have a new media rights deal in 2025, which could be in multiples of its current one.

While the NBA could have been a first mover to the Las Vegas market — commissioner Adam Silver was the first league leader to call for legalized sports betting in 2014 — it would now be following the trend. Las Vegas has become a boomtown for pro sports. The Vegas Golden Knights debuted in 2017. The Las Vegas Aces moved there from San Antonio in 2018. The Raiders moved from Oakland in 2020.

Along with new teams, the city has seen a proliferation in facilities over the last decade. T-Mobile Arena, which houses the Knights, opened in 2016. The Raiders built their own stadium, which opened in 2020.

Badain believes Las Vegas is ready for an NBA team.

“The answer to that question is an absolute yes,” he said. “I certainly think Vegas is ready for it. I certainly think that the demand would be there for it. It’s an incredible sports town. You have the combination of a growing locals base that’s enjoyed the affiliation with both the Knights and then obviously the Raiders. And then you also have the tourism base that can augment that, so I think the market is ready for an NBA team and really excited to embrace it.”

Las Vegas is the 26th-most-populous city in the United States and the 29th-most-populous metropolitan market. But the corporate and tourist base certainly augment the set population, and it’s not hard to pitch most athletes on the lifestyle.