NBA legend Earvin “Magic” Johnson and his investment group, The MAGI, have signaled their interest in becoming part of an ownership group should the NBA expand to Las Vegas, according to a source familiar with the situation.
Potential Las Vegas NBA Franchise Attracts High-Profile Interest
The move comes as the NBA considers potential expansion markets. Johnson met with Nevada Governor Joe Lombardo and other Southern Nevada civic leaders last month to discuss a formal pursuit of a Las Vegas NBA team and a potential arena/hotel project on the Strip.
Governor Lombardo expressed support for the discussions, stating, “Magic’s impact as both an athlete and a business leader is well known, and we appreciate his engagement with our state.” He added that his administration welcomes conversations about bringing more professional sports teams to Nevada.
Expansion Plans and Arena Considerations
The MAGI group has already begun a three-phase process, which includes meetings with local leaders, site selection, and identifying additional ownership partners. They have also reportedly been in contact with representatives from major hotel-casinos.
NBA Commissioner Adam Silver indicated to Governor Lombardo that T-Mobile Arena could be a viable option for a team, but only if “hundreds of millions of dollars” in upgrades were made to the nearly 10-year-traditional venue.
Vegas Golden Knights owner Bill Foley, who has a stake in T-Mobile Arena, has also publicly expressed interest in being part of an ownership group and previously stated he would invest $300 million in arena renovations if involved.
What’s Next?
Johnson is expected to discuss his interest with Commissioner Silver following upcoming league meetings. The MAGI group is scheduled to return to Las Vegas this weekend for an event at an undisclosed location. A decision on expansion markets could come as early as the NBA’s July meetings, which will coincide with the NBA Summer League in Las Vegas.
Frequently Asked Questions
What is the MAGI group?
The MAGI is the investment group led by Earvin “Magic” Johnson that is pursuing an NBA expansion franchise in Las Vegas.
What has the NBA said about T-Mobile Arena?
NBA Commissioner Adam Silver stated that T-Mobile Arena could be an option for a team if “hundreds of millions of dollars” in upgrades were made.
Who else has expressed interest in owning a Las Vegas NBA team?
Vegas Golden Knights owner Bill Foley has stated his desire to be part of an ownership group and has offered to invest $300 million in arena renovations.
As the NBA considers its options, will Las Vegas become home to a new franchise?
