Investment Group Says It Nears Purchase Of NBA Team For New Las Vegas Facility

An investment group that wants to build a stadium in Las Vegas says it’s on the cusp of purchasing an NBA team to play in the facility, according to the Las Vegas Sun

For the deal to go through, said Chris Milam, CEO of International Development Management LLC, the group must strike a deal with the county to fund construction of the arena — dubbed the Silver State Arena — slated for the old Wet ‘n Wild water park site.

“We have an NBA team under contract,” Milam said, declining to name the franchise. But the deal will take effect only if “other pieces of the puzzle fall into place: One of those pieces will be that a building (arena) is approved,” he said.

So who’s the mystery team?

The Sacramento Kings have rejected early speculation that it’s the one — despite being owned by George Maloof, a developer who owns properties in Vegas and has demanded for a new stadium.

How about the King-less Cavaliers?

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