North or South: Civil war brewing over NBA arena on Las Vegas Strip

Las Vegas is most likely the next city to be awarded an NBA expansion team, and those close to the process believe T-Mobile Arena is the front-runner to be the home venue. The 20,000-seat arena, home to NHL's Vegas Golden Knights, has met much of the league's criteria. However, MGM Resorts International, the venue's primary operator and 50 percent owner, and NBA officials said significant upgrades would be required for the arena to host an NBA regular season. Meanwhile, Golden Knights owner Bill Foley has emerged as leading the ownership sweepstakes that could cost as much as $10 billion. Foley said he would invest $300 million to $400 million in renovations to bring T-Mobile up to NBA standards for an expansion franchise. Foley also owns a stake in the arena, which opened in 2016 on the south end of the Strip behind Park MGM and New York-New York. MGM Resorts CEO Bill Hornbuckle said in April he could not directly comment on discussions surrounding T-Mobile because he had signed several nondisclosure agreements concerning the venue. "The good news is the NBA has clearly earmarked Las Vegas," Hornbuckle said during the company's quarterly earnings conference call. "We're excited by it. How could we not be? T-Mobile is part of that conversation, whether it's short term or long term.

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