CEO of Oak View Group Tim Leiweke announced Wednesday during an interview with CNBC that his group has purchased 25 acres of land in Las Vegas to build a $3 billion sports and entertainment district that will include a 20,000-seat arena. With his announcement, he made it clear that if the NBA ever wanted to have a franchise in Sin City, the new venue could serve as its home.
“The arena will be world-class,” he said. “We’re prepared to spend about a billion dollars on building the new arena. It will be for music, it’ll be for sports, it’ll be for cultural activities, and should the NBA decide to come—and by the way there’s no certainty or no guarantees that the NBA is ever coming to Vegas but should they come—we certainly will be NBA-ready and make sure that we hit all of their standards.”
