Vegas Golden Knights founder Bill Foley revealed Monday he is formally pursuing an NBA franchise for Las Vegas. The move follows the league’s board of governors vote in late March to open expansion talks exclusively for Las Vegas and Seattle. All 30 owners backed the exploration, and the bidding window is expected to generate offers in the $7 billion to $10 billion range.

Foley, a $2.6 billion Forbes billionaire, already owns NHL’s Golden Knights and several European football clubs, including AFC Bournemouth and FC Lorient. He hired Morgan Stanley and Simpson Thacher & Bartlett to steer the transaction, emphasizing a small group of strategic minority partners that fit the league’s ownership policy. The bid targets T‑Mobile Arena, an 18,000‑seat venue comparable to current NBA sites.

Adding an NBA team would cement Las Vegas’ rise from a host of one‑off events to a full‑time major‑sports market that already boasts the Golden Knights, the Raiders and the WNBA’s Aces, with MLB’s Athletics slated to move in 2028. Foley would join a short list of owners who control franchises in both leagues, giving the NBA a ready, credible Las Vegas option.