It appeared that Shaquille O’Neal, like LeBron James, had given up on the dream of owning the Las Vegas expansion team. But not only has the opportunity opened up for him, but he might be considering a possible high-stakes bidding war with his own social circle. With Magic Johnson’s entourage also in the running to kickstart a franchise, Shaq is spoiled for choice. The race to bring a franchise to the entertainment capital has officially escalated into a multi-billion-dollar corporate race involving the NBA and Hollywood elites. There are at least four groups in contention for the Vegas franchise, while Shaq is yet to pick a side.

According to Page Six, a powerful consortium of sports legends, entertainment moguls, and institutional investors could clash in an investment race that could take the Vegas franchise’s valuation as high as $13 billion. Until recently, the NBA expansion teams in Vegas and Seattle were estimated at $10 billion, which is already steep for brand-new teams. 

Now, a powerhouse group known as the Las Vegas Jacks, led by Naismith Basketball Hall of Famer and former Phoenix Suns owner Jerry Colangelo, has officially announced a massive bid after locking in a minimum of $8 billion in secured financial capital. Despite the warchest this group already has, their asset goal is as high as $13 billion. The group boasts former NBA players Vinny Del Negro and Jay Williams, along with former Turner Sports president David Levy, to build a bulletproof proposal. Colangelo’s camp has fundamentally reset the price of admission for Sin City’s upcoming expansion slot. The NBA expansion to Vegas could mark the first new franchise since 2004. The $13B valuation reflects Vegas’s growth as a sports capital since the Golden Knights’ 2017 debut.

This monumental cash play directly positions Colangelo on a collision course with a competing syndicate backed by Los Angeles Lakers icon Magic Johnson and his investment firm, MAGI. Representatives for MAGI have already met with state officials, including Nevada Gov. Joe Lombardo.

Competing with them is another faction led by former Disney CEO Bob Iger and Thrive Capital founder and managing partner Josh Kushner, a minority owner of the Miami Heat. They are exploring a bid of their own via Thrive Eternal. Bill Foley, the owner of the NHL’s Vegas Golden Knights and a minority owner in T-Mobile Arena, also expressed interest in bidding. Interestingly, the T-Mobile Arena is the presumed home of the new Vegas team till they have their own arena at least.

Shaquille O’Neal’s position among these bidders is interesting. He has publicly voiced a strong desire to partner with an ownership group to anchor a Vegas team. But it remains to be seen who he picks. 

Shaquille O’Neal could join any Vegas ownership bidder

LeBron James was keen on owning a Vegas franchise. But in addition to active players being prohibited from joining the Board of Governors, he’s returning for a landmark 24th season. The result? He firmly stated he’s not participating in the bids. It’s also said that Fenway Sports Group’s backing out because of the reported $8 billion entry fees was a factor in that decision. But unlike LeBron, Shaq’s exploring partnerships rather than leading the line himself.

Before the NBA Governors officially approved the exploration of Vegas and Seattle as the next NBA destinations, Shaq had been vocal about wanting to become an NBA team owner. He refused to partner with LeBron but openly courted former Mavericks shotcaller, Mark Cuban, for the role. He had, however, been silent since the expansion teams were finalized. Some thought that without a backer like FSG, O’Neal would not be in a position to bid.

Page Six indicates Shaq is quietly weighing his options to join one of the existing bidders. Logically, it would make sense that he’d join hands with Magic Johnson, his mentor long before he was selected first in the 1993 NBA draft. Shaq has modeled his business after Magic and dreams of owning franchises like his idol.

If they team up, it could be a clash of Lakers royalty against the very executive who built the Phoenix Suns and USA Basketball into modern powerhouses. The sheer magnitude of Jerry Colangelo competing with a $13 billion war chest has unprecedented leverage in a bidding war. So far, this is the only group that has officially raised the funds, while the others have only formally expressed interest in the team.

The Las Vegas Jacks could end up luring the Big Aristotle in their camp, too. After all, they have O’Neal’s former boss from TNT, David Levy. Inside the NBA may be under the Disney/ABC-owned ESPN, but it’s impossible to discount the Bob Iger factor in getting Shaq on his side, either. Iger has longstanding relations with the league, and O’Neal, who boasts big connections at Disney from his Orlando days, could rival Magic and Colangelo by joining him.

It can be argued that he has a connection with Bill Foley, too. O’Neal is constructing a multi-million-dollar youth sports complex in Northeast Vegas. Shaq’s friends at the Golden Knights, the Raiders, UFC, and multiple sports leagues have donated towards building special multi-sport athletic facilities for kids.

As for the location, Las Vegas has transformed into a thriving global capital for professional athletics, including where Shaq has left a mark with his restaurants, Fantasy Labs, DJ events, and real estate. Now, Colangelo’s sudden influx of cash could prompt Shaq, Magic, and more to raise the stakes to bring an NBA team to Sin City.