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.
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.
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.
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.
“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.