Billionaire looking to bring NHL Team to Las Vegas

One story that we’ve frequently discussed is how major sports leagues are suing New Jersey over their quest to offer legal sports betting. The reason why is because leagues like the NBA, NFL, NHL and MLB fear corruption if a state that houses professional sports franchises also offers sports wagering. But perhaps the NHL may be lightening their stance somewhat as billionaire William Foley seeks to bring a hockey team to Las Vegas.

Unlike New Jersey, Sin City already has sportsbooks in place, which has always served as a detractor to professional teams. But Foley, founder of Fidelity National Financial, may be on the path towards breaking ground here. “He’s the real deal,” a source told the New York Post. “He has deep pockets.”

The NY Post goes on to explain that Foley wants an NHL team in Vegas by the 2017-18 season, and he’ll bring others in to run the franchise if he’s successful. One route that’s mentioned for the 70-year-old includes buying the beleaguered Phoenix Coyotes team and moving it to the desert gambling mecca. Further speculation contends that Philadelphia hedge fund manager Andrew Barroway, who recently purchased a big stake in the team, wouldn’t be opposed to flipping the franchise for a profit.

Contrary to these thoughts are the words of Coyotes co-owner and CEO Anthony LeBlanc, who told the NY Post, “The Arizona Coyotes are absolutely not relocating. IceArizona is committed to our market and our fans.” Following the Barroway sale, IceArizona maintains a 49% share of the team, and they have a five-year lease on a Phoenix-based arena, which expires after the 2017-18 season, or if losses equal or exceed $50 million.

Assuming Folely can’t purchase the Coyotes, NHL Commissioner Gary Bettman hasn’t ruled out the idea of expansion – even if it means a team in Vegas. Another side to this is that Folely hired former WSOP Commissioner Jeffrey Pollack to be his adviser in the Vegas/NHL matter. This is of significance because Pollack both knows Vegas well and is a half-brother to Bettman.

By itself Vegas is a fairly large city with over 600,000 residents. However, their annual tourism of over 40 million people is even more noteworthy. So if they were to land an NHL team, the market would certainly be nice.