A group of business leaders led by Jerry Colangelo is among three finalist bidders being considered to own a future NBA expansion franchise in Las Vegas, according to a report from ESPN.
Before the end of the year, the NBA will hold a formal approval process for two expansion teams – one in Las Vegas and another in Seattle – with the winning bid for the Las Vegas team to go first.
Colangelo, who personally shaped the landscape of Phoenix’s professional sports industry, announced over the summer that he is leading a group called the Las Vegas Jacks to buy the new franchise.
All three groups indicated they would be building new arenas in Las Vegas for the team to play in.
Read more of this story from the Business Journal.
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