A group led by former NBA executive Jerry Colangelo and Horizon Sports & Experiences CEO David Levy announced plans Wednesday to submit an NBA expansion bid for Las Vegas. The group, called the Las Vegas Jacks, claims to have already raised $8 billion.

Front Office Sports reported that former Bulls point guard Jay Williams and former Clippers coach Vinny Del Negro are also part of the group. The Jacks intend to build their own arena and an accompanying entertainment district if awarded a franchise.

The Jacks join a growing list of Las Vegas suitors that includes Golden Knights owner Bill Foley, former Disney CEO Bob Iger with venture capitalist Josh Kushner, former Bucks owner Marc Lasry and NBA legend Magic Johnson. NBA commissioner Adam Silver confirmed before the Finals that Las Vegas and Seattle remain the league's two expansion targets.

"We're focused on Las Vegas and Seattle," said Silver. "There are multiple groups interested in both cities."

Seattle's market has moved more slowly by comparison. Only one group, led by Kraken governor Samantha Holloway, has publicly expressed interest in bringing an NBA team back to the city.

League sources told Front Office Sports that the ongoing Seattle Seahawks sale may be pulling potential bidders away from a Seattle expansion effort. Holloway's group has spent years preparing, designating multiple rooms at Climate Pledge Arena as "NBA Locker Room" space, and holds a majority stake in the arena.

Silver has not committed to expansion moving forward and said a decision will come by year's end.

"There is enormous instability in the world at the moment," he said in March. "We may ultimately conclude for reasons completely out of our control that it's not the right time to expand."

Silver has said expansion bids could reach as high as $10 billion, with proceeds split among the league's 30 current owners.