The NBA expansion race is intensifying in Las Vegas, where a new ownership group called the Las Vegas Jacks announced their intention to submit a bid to secure a franchise. This group, led by former Suns owner Jerry Colangelo and Horizon Sports CEO David Levy, also features ESPN analyst Jay Williams and ex-Clippers coach Vinny Del Negro. The Jacks have revealed plans to build a new arena and an entertainment district, and claim to have raised $8 billion for their pursuit. Their proposal adds to significant interest in the city, joining bids from Vegas Golden Knights owner Bill Foley, former Disney CEO Bob Iger with venture capitalist Josh Kushner, ex-Bucks owner Marc Lasry, and NBA legend Magic Johnson.

NBA Commissioner Adam Silver has confirmed Las Vegas and Seattle are the two primary cities under consideration for expansion. While Las Vegas boasts a competitive ownership field with strong NBA connections, Seattle's prospects have slowed. Only one known group, led by NHL Kraken governor Samantha Holloway, remains publicly active in Seattle. The absence of multiple bidders reduces the chance of a bidding war that would drive expansion fees higher. Factors contributing to Seattle’s slower momentum include the ongoing sale of the NFL Seahawks franchise and challenges in securing a viable new arena location, despite Holloway’s majority stake in Climate Pledge Arena, which already has facilities being prepped for NBA use.

Seattle’s historical ties to the NBA, with the SuperSonics franchise from 1967 to 2008 before their relocation to Oklahoma City, keep hope alive for a team's return. Holloway’s bid represents a serious long-term effort, yet the lack of competing bids highlights the complexity of reviving NBA presence in the city. Meanwhile, the strong roster of Las Vegas bidders, all of whom have deep NBA affiliations—like Colangelo with decades of front-office experience, Iger’s ties through ESPN, and Magic Johnson’s successful sports ownership—positions Vegas as the frontrunner in the current expansion talks.

Although Adam Silver remains cautious about the timing and has not committed fully to expansion, he anticipates a decision by the end of 2026. The potential price for an NBA expansion team could reach $10 billion, and the league may choose to award a franchise to only one city. The evolving process in both cities underscores the league’s strategic approach to expansion, balancing market readiness, ownership strength, and financial considerations while monitoring external global uncertainties that might impact the final decision.