The Las Vegas Jacks today officially unveiled its leadership group, bringing together one of the most accomplished collections of leaders ever assembled to pursue a major professional sports franchise. Combining Hall of Fame basketball pedigree, championship-winning executives, media innovators, venue development expertise, institutional financial partners and visionary business leaders, the group is united by a singular mission – bringing the NBA’s next franchise to Las Vegas and building a global basketball destination unlike any other. With an asset target of $12.5 to $13 billion, $5 billion already committed and another $3 billion formally indicated, the Las Vegas Jacks stand ready to execute on its overarching vision.
The collective is led by Jerry Colangelo, Vinny Del Negro, David Levy, Scott Colangelo, Jonathan Thomas and Jay Williams. BTIG and U.S. Bank, supported by Global Leisure Partners, will serve as institutional financial partners, providing the capital markets expertise and rigorous advisory support required to execute this multi-faceted franchise acquisition and development strategy.
“Basketball has become a global sport to levels never seen before,” said Jerry Colangelo. “With the five top MVP vote-getters being all internationally born, the game is reaching unparalleled heights. My excitement for this project and for our Jacks’ vision is right up there in terms of my career. We all are committed and working as hard as we can to bring the league, owners and the fans, the best proposal and end product possible to Las Vegas.”
“We believe that with our leadership, and vision for Las Vegas basketball to be an international hub for global basketball events, that no other group can match the proven leaders we have assembled in making Las Vegas an unparalleled success,” added Del Negro.
Purpose-built to address every critical element of modern franchise ownership, the Las Vegas Jacks leadership team combines expertise across basketball operations, league relationships, media rights, finance, venue development, premium hospitality, sponsorship, brand strategy, fan experience, global events and long-term franchise growth. Collectively, the team has built championship organizations, launched transformative media businesses, developed iconic venues, negotiated landmark commercial partnerships and helped shape the business of sports on a global scale.
“Our team is focused on executing on three very distinct levels,” said Scott Colangelo. “Raise the entirety of the capital in cash with exceptional business leaders. Build the most impressive state of the art basketball arena in the world. And be part of a group committed to giving the city of Las Vegas what they deserve, exceptional. Not good or great. Exceptional. You can only do that with people who know basketball, and have successfully run professional sports teams. The quality of our team is second to none and we fully plan on executing on all of the above priorities. The people of Las Vegas deserve no less.”
“When I saw the caliber of the team and its vision, I immediately knew this was different,” added Levy, Former President of Turner Sports & Co-Founder of HS&E. “I’ve had the privilege of collaborating with many of the most influential leaders in sports throughout my career, and this group belongs in that conversation. It’s a remarkable collection of basketball, business, finance and media talent with a shared commitment to building something truly special.”
Beyond securing an NBA franchise, the ownership group is committed to making this development the center of the basketball universe. In addition to the arena, other new facilities will be built alongside impressive partners that the community will welcome with open arms. As part of its short-term, strategic plan, the group intends to begin play at T-Mobile Arena while pursuing the development of a next-generation basketball-centric multi-purpose sports, entertainment and convention venue.
“I’m thrilled to be part of this All-Star lineup,” added American Century Chairman & CEO Jonathan Thomas. “Making this historic announcement on the eve of the NBA Summer League and our event – the American Century Championship – is certainly the perfect precursor.”
More news and announcements from the Las Vegas Jacks ownership group will follow.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260708659086/en/
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