LAS VEGAS (KTNV) — A sports and entertainment developer is pitching a 66-acre, $10 billion sports campus in Las Vegas.
The project is the vision of Oak View Group, with the ultimate aim of attracting an NBA franchise to the Las Vegas Valley.
Oak View Group chairman and CEO Tim Leiweke made the pitch at the Las Vegas Global Economic Alliance's Las Vegas Perspective event on Thursday.
HAPPENING NOW: At the Las Vegas Perspective 2023, Tim Leiweke the CEO & Chairman of Oak View Group says he is working to build a $10 billion dollar privately funded 66 acre sports campus with an arena to help bring an NBA franchise to Las Vegas. He says this may start in 2024. pic.twitter.com/0ePc00CcQo
— Abel Garcia (@abelgarcianews) June 15, 2023
Lieweke says the company is working to finalize an entitlement with Clark County to build a 66-acre sports campus in Las Vegas, with an arena as the centerpiece. The campus would include hotels, casinos, restaurants and other facilities, Lieweke said.
Oak View Group estimates the project would cost $10 billion. The company expects it to be "the largest development in the history of Las Vegas."
The company has already invested $27 million, Lieweke said, and has $1 billion in private funds ready to invest.
They're asking Clark County to grant an entitlement — hopefully by the end of the year — in order to move forward.
A master plan for the campus is yet to be finalized, Lieweke said, noting that Oak View Group is pushing to start work on the project as soon as next year.
This news comes just a day after Nevada lawmakers approved $380 million in public funds for the proposed construction of a $1.5 billion Major League Baseball ballpark on the Las Vegas Strip. The park would be home to the Oakland Athletics — if MLB commissioners approve their relocation.
Much has been said about bringing an NBA franchise to Las Vegas over the years in light of the success demonstrated by the Vegas Golden Knights, the Las Vegas Aces and the Las Vegas Raiders.
NBA superstar LeBron James has talked frequently in recent months about his desire to own a franchise in Las Vegas. NBA commissioner Adam Silver, in response to questions about a potential expansion, has said he doesn't expect it to happen any time soon.
Las Vegas is already home to the NBA Summer League, which happens at UNLV's Thomas & Mack Center.
In a previous interview with Channel 13, Las Vegas Mayor Carolyn Goodman said she expects the NBA will be among the next professional leagues to expand to Las Vegas.
"We certainly have the WNBA," she said previously. "That was why that was there, a sort of 'let's see how they do,' and they've done remarkably well."
The NBA last expanded in 2002 with the Charlotte Bobcats (now Hornets). The last team to relocate was the Seattle Supersonics, which moved to Oklahoma City in 2008 and became the Thunder.
