The Vegas Golden Knights are a relatively new addition to the National Hockey League, having played their first season in 2017-2018. The team has quickly become popular among fans thanks to its success on the ice and unique branding. However, many people wonder who actually owns this successful hockey franchise.
The majority owner of the Vegas Golden Knights is billionaire businessman Bill Foley, who founded Fidelity National Financial and is also chairman of mortgage insurer Black Knight Inc. Foley acquired the NHL expansion team for $500 million and currently holds a 75% ownership stake through his company Black Knight Sports & Entertainment.
“The opportunity came up and I saw there was an open market with no competition, ” Foley said in an interview with USA Today. “I love Las Vegas as a community. “
Under Foley’s ownership, the Golden Knights have achieved significant success both on and off the ice. In their inaugural season, they set multiple records including most wins by an expansion team in their first season and advancing all the way to the Stanley Cup Finals. They’ve continued that momentum into subsequent seasons and remain one of the top teams in the league.
But it isn’t just about winning games – under Foley’s leadership, the team has made efforts to connect with fans and give back to the community through various charitable initiatives. So while he may be a wealthy business magnate, it’s clear that Foley truly cares about making hockey accessible and enjoyable for everyone in Las Vegas.
The Majority Owner of the Vegas Golden Knights
When it comes to owning NHL franchises, there are a lot of big-name figures that come to mind. For the Las Vegas-based Golden Knights, however, their majority owner is Bill Foley.
Foley has been involved with a number of successful businesses over the course of his career, from finance and real estate to wine production. However, he’s perhaps best known in recent years for bringing professional hockey to Sin City.
In addition to being the majority owner of the Golden Knights, Foley is also part-owner of multiple other sports ventures. This includes elite training centers in Missouri and Florida along with soccer team Orlando City SC.
“We knew exactly what we wanted when we bought this franchise, ” says Foley about his decision to bring an NHL team to Las Vegas.
This business acumen was put on display during several crucial moments in the early days of the Knights’ existence. From carefully managing free agency deals to building out a top-of-the-line practice facility at City National Arena, each move helped cement Las Vegas as a serious player in professional hockey circles.
Overall, while many people might not recognize Foley by name alone if you ask who owns The Vegas Golden Knights Hockey Team, they’ll likely remember him as one reason why the beloved expansion squad exists today.
The Man Behind the Team
Who owns The Vegas Golden Knights Hockey Team, you ask? Well, it’s none other than billionaire businessman Bill Foley. A graduate of the United States Military Academy at West Point and Harvard Business School, Foley made his fortune in finance, specifically with Fidelity National Financial.
In 2016, Foley was granted an NHL expansion franchise that would become known as The Vegas Golden Knights. At first thought by many to be a risky move due to Las Vegas’ reputation for not being a “traditional” hockey city, Foley saw the potential in bringing professional sports to one of the biggest entertainment capitals in the world.
Foley is often praised for his hands-on approach to owning and running the team. He has been quoted saying he likes “to understand every aspect of the business, ” from player acquisitions to ticket sales. It seems this mentality has paid off – The Vegas Golden Knights became the most successful expansion team in NHL history during their inaugural season in 2017-2018, making it all the way to the Stanley Cup Finals.
“I want people who come here (Las Vegas) feeling like they’re coming into our house… they’re going to see great hockey and have fun doing it. ” – Bill Foley
All signs point towards continued success under Foley’s leadership, with strong fan support and high-profile events such as hosting an outdoor game at Lake Tahoe during the pandemic-shortened 2021 season.
The Minority Owners of the Vegas Golden Knights
When it comes to owning sports teams, having partners isn’t uncommon. For the Vegas Golden Knights hockey team, ownership is shared among multiple individuals and groups.
The majority owner of the Vegas Golden Knights is Bill Foley, who has a 76. 6% stake in the team. However, there are also several minority owners who have invested in the club.
One of the most well-known minority owners is Joe Maloof, former co-owner of NBA’s Sacramento Kings. He owns 10% of the VGK and has been a driving force behind bringing professional sports to Las Vegas.
Another noteworthy investor is Harry Morton, founder of Pink Taco restaurant chain and son of Hard Rock Cafe founder Peter Morton. He owned a 1% stake in the team until his untimely death in November 2019.
“We are proud that we were on board from Day One with this amazing franchise, ” Maloof said in an interview with Fox News. “It’s exceeded expectations. “
In addition to these two notable names, other minority investors include David Bonderman (3%) and Michael Glimcher (1%). Each bring their unique contributions to help make the VGK one of the NHL’s more successful expansion franchises ever.
While Bill Foley may be majority owner, it’s clear that each investor plays an important role in making sure that The Golden Knights remain championship contenders for years to come.
Who Else Has a Piece of the Pie?
The Vegas Golden Knights Hockey Team was founded in 2017 and is owned by the Black Knight Sports & Entertainment, which is led by William Foley II. However, other individuals and entities have also invested in the team.
One notable investor is Jerry Bruckheimer, the famous Hollywood film producer who is best known for producing popular movies such as Top Gun (1986) and Pirates of the Caribbean (2003). He joined the ownership group in September 2019 after making a substantial investment.
Another noteworthy member of the ownership group is Joe Lewis, a British businessman who made his fortune through currency trading. According to Forbes, he has an estimated net worth of $4. 2 billion and is one of the wealthiest people in the world. Other smaller investors include Murray Craven, Tim Leiweke, The Maloof family, Michael Mersch among others
“We are proud to have assembled a distinguished group of business leaders with proven track records of success in multiple industries, ” said Bill Foley when discussing the diverse range of investors who support the team. ”
In summary, while Black Knight Sports & Entertainment owns a majority stake in the Vegas Golden Knights hockey team – there are several other high-profile investors involved as well. It’s safe to say that this iconic NHL franchise is backed not only by dedicated fans but also some impressive financial powerhouses.
How the Vegas Golden Knights Were Funded
The Vegas Golden Knights hockey team was founded in 2017 and quickly became one of the most successful expansion teams in NHL history. But how were they able to enter the league with such ease?
The answer lies in their funding. The majority owner, Bill Foley, put up $500 million of his own money to bring the team to Las Vegas. He also received help from other investors who contributed an additional $100 million.
In addition to this initial investment, the Knights have been able to generate revenue through merchandise sales, ticket sales, and sponsorships with various companies.
“We’ve exceeded all projections, ” said Foley in a statement earlier this year. “The community has embraced us. “
Foley is not new to investing; he has made his fortune as an entrepreneur and investor for decades before becoming involved in owning a sports team. In fact, he is still heavily involved in running Fidelity National Financial Inc. , which provides title insurance and mortgage services.
All of these factors combined have led to a highly profitable first few years for the Vegas Golden Knights. While there were some skeptics initially about putting a sports team in Las Vegas, it seems that Foley’s gamble paid off – both financially and on the ice.
The Role of the NHL in the Team’s Creation
The Vegas Golden Knights are a professional hockey team owned by Black Knight Sports and Entertainment, a consortium led by billionaire businessman Bill Foley.
However, the creation of the team was not solely dependent on private ownership. The National Hockey League played a significant role in bringing an expansion franchise to Las Vegas.
In 2016, the NHL announced its intention to expand from 30 teams to 31, with one of those new franchises going to the city of Las Vegas. The decision came after years of speculation about whether or not Sin City could support a major sports team.
“The league has always known that there would be tremendous appeal for having a team located here, ” said Commissioner Gary Bettman at the time.
Beyond simply awarding an expansion franchise, however, the NHL provided crucial infrastructure and guidance in creating the Golden Knights organization. This included assisting with everything from hiring front office staff to designing player uniforms.
All told, it’s safe to say that without the involvement of the NHL, there would likely be no Vegas Golden Knights today. Ownership is important, but it takes more than just money to create and sustain a successful sports franchise – as evidenced by how closely leagues like the NHL work with owners when expanding into new markets.
The Money Behind the Team’s Acquisition
When it comes to owning a professional sports team, it requires significant financial resources. So who owns the Vegas Golden Knights Hockey Team?
The majority owner of the team is businessman Bill Foley, who founded Fidelity National Financial Inc. , one of America’s largest title insurance companies. He teamed up with several other investors to purchase an NHL franchise in Las Vegas for 500 million dollars back in June 2016.
Foley also had some luck on his side when it came to naming the expansion team. His wife suggested ‘Knights’, and after conducting focus groups he decided on ‘Golden’ since so many things in Vegas are gold-colored – such as the hotels and clubs.
“Winning a professional sports team was something I’ve always wanted, ” said Foley during an interview with Fortune Magazine.
In addition to Foley, there were many others who put money into the project including Hollywood producer Jerry Bruckheimer, PriceWaterhouseCoopers vice chairman Brian O’Leary and more than two dozen others:
- Danny Farquharson – Vice President at Leverage Real Estate Investments Ltd
- Mark Lashier – CEO Phillips 66 Partners LP
- Todd Pollock- Senior VP Operations Live Nation Entertainment International Music division, founder of Toronto Monarchs Jr. Hockey Club
- Richard Schaefer – Chief Investment Officer King Street Capital Management LLC
A winning bid for an NHL team could take years of revenue forecasting and due diligence by multiple parties interested in acquiring a sports team. However, despite this time-consuming process, investments can pay off handsomely when you have a great leadership structure driving success both on and off-the-field (or ice).
The Future of the Vegas Golden Knights
After their extremely successful inaugural season, the Vegas Golden Knights have established themselves as a dominant force in the NHL. However, fans and investors alike are wondering who owns this promising hockey team.
The majority owner of the Vegas Golden Knights is Bill Foley. He is also a co-founder of Fidelity National Financial Inc. , one of the largest title insurance companies in America. Additionally, the Maloof family was originally listed as minority owners when the team was founded, but they sold their stake to Foley later on.
Looking ahead to the future, it appears that Foley has some big plans for his franchise. The Golden Knights recently purchased Henderson Hospital’s naming rights for their practice facility to expand their presence in Southern Nevada. They have also focused on building up a strong farm system through drafting young talent and developing prospects within their organization.
“We want to build something special here, ” Foley said in an interview with ESPN. “Not just winning teams but great schools so people are happy being part of our community. “
Foley’s vision for both success on the ice and building up a strong foundation off of it seems like a promising formula for long-term success for the Vegas Golden Knights.
What’s Next for the Team on and off the Ice
The Vegas Golden Knights Hockey Team has already made a remarkable impact in the National Hockey League (NHL) by reaching the Stanley Cup Final in their very first season. Despite losing to the Washington Capitals, they are one of the most exciting teams to watch with their fast-paced, high-scoring style of play.
On the ice, fans can expect more success from this team as they continue to build on their impressive record. Off the ice, there are also exciting developments happening within the organization.
In 2018, The Black Knight Sports & Entertainment LLC announced that Bill Foley had purchased land on which he planned to build a practice facility and headquarters for both his hockey and soccer teams. This new state-of-the-art facility will be located near Downtown Summerlin and is expected to open in 2020.
“We’re going to have everything we need right here, ” said Foley about their new headquarters.
Additionly, it was announced at beginning of 2021 that Silver Knights’ owner Bill Foley officially became chairman of the NHL ‘s Executive Committee when he succeeds Boston Bruin owners Jeremy Jacobs after being elected along with Winnipeg Jets Chairman Mark Chipman vice-chairmen Elias Friedkin of Chicago Blackhawks; Murray Edwards of Calgary Flames; Andrew Barroway of Arizona Coyotes and Craig Leipold Minnesota Wild completing group leadership structure.
This ownership change should add to excitement building around VGK’s sport achievements because strong in club administration directly affect teams performance inside any league towards leagues goals.
The Impact of the Team on the Vegas Community
The Vegas Golden Knights hockey team has had a significant impact on the community since its creation in 2017. The team’s ownership group, Black Knight Sports and Entertainment LLC, led by businessman Bill Foley, saw an opportunity to bring a professional sports team to Las Vegas.
As the first major league professional sports team in Vegas, the Golden Knights have brought new life to the city. They’ve given residents something to cheer for and attend regularly throughout the year, helping boost local pride and solidarity.
In addition to highlighting Las Vegas as a viable sports town, the presence of the NHL franchise has also created more jobs locally and sparked interest in youth hockey programs. The Golden Knights Foundation continues to donate funds towards charitable organizations across Southern Nevada.
“The most important thing is becoming ingrained in your community and being part of it, ” said owner Bill Foley regarding his vision for the team’s involvement with various charities. “
Besides their contributions off-ice, this franchise has already made history after making it all the way to Stanley Cup finals during their inaugural season alone!In conclusion, beyond entertainment value The Vegas Golden Knights hockey team has rapidly become an important fixture within Las Vegas that elevates both communal spirit and social welfare through philanthropic activities fueled by solid management from EPSN analyst turned owner Mr. Foley himself!
Frequently Asked Questions
Who is the current owner of the Vegas Golden Knights Hockey Team?
The current owner of the Vegas Golden Knights Hockey Team is Bill Foley, a businessman and entrepreneur who founded Fidelity National Financial.
How did the Vegas Golden Knights Hockey Team come into existence?
The Vegas Golden Knights Hockey Team came into existence as an expansion team in the National Hockey League (NHL) in 2017. The NHL awarded Las Vegas an expansion team in June 2016, and the team played their first game on October 6, 2017.
Who were the initial investors in the Vegas Golden Knights Hockey Team?
The initial investors in the Vegas Golden Knights Hockey Team were led by Bill Foley, who contributed $500 million towards the expansion fee. Other investors included the Maloof family, the Sartini family, and the Carano family, among others.
How much did the Vegas Golden Knights Hockey Team cost to create?
The Vegas Golden Knights Hockey Team cost $500 million to create, which was the highest expansion fee in the history of the NHL at the time. This fee was paid by the team’s owner, Bill Foley, and the team was awarded to Las Vegas in June 2016.
What impact has the Vegas Golden Knights Hockey Team had on the city of Las Vegas?
The Vegas Golden Knights Hockey Team has had a significant impact on the city of Las Vegas since its creation. The team has brought a sense of community and pride to the city, and has helped to boost tourism and the local economy. The team also helped to bring the city together after the tragic shooting at the Route 91 Harvest music festival in October 2017, and has become a symbol of hope and resilience for the community.