EDITORIAL: Heralding hockey bid

Bill Foley is a very rich man. The billionaire is chairman of a title insurance and mortgage company and the owner of 14 wineries, a cattle ranch and a golf course community. You don’t build that kind of wealth without doing loads of due diligence, figuring out what people want and whether they’ll pay for it.

That’s what makes his effort to bring a National Hockey League team to Las Vegas so impressive. Mr. Foley is putting in the work to be absolutely sure valley residents will support an expansion franchise. He already has a lease agreement with MGM Resorts International and the Anschutz Entertainment Group, the companies building a state-of-the-art arena on the Strip.

In a meeting last week with the Review-Journal’s editorial board, Mr. Foley proved he had full grasp of the most elementary need for a top-tier professional sports franchise: paying fans. If Southern Nevadans won’t buy tickets, there won’t be a team. So Mr. Foley is focused on enlisting 10,000 season-ticket holders — and collecting 10 percent down on each of those season tickets — to prove to the NHL that this city will indeed support a team.

And he isn’t seeking a dime of taxpayer money to realize his dream. That alone deserves a standing ovation.

Contrast that with what’s happening at City Hall. The Las Vegas City Council last month approved a taxpayer giveaway to subsidize a downtown stadium for The Cordish Cos. and Findlay Sports &Entertainment, who are trying to secure a Major League Soccer franchise. Did the council require a season ticket drive with deposits to prove to the public and the MLS that valley residents would support a professional soccer team? Nope. The entire deal was struck on faith that Las Vegans want a big-league team of their own. (The stadium plan dies if MLS doesn’t award the city a team.)

Mr. Foley is willing to lay out a whole lot of his money to bring pro hockey here, but he won’t make such a large investment based on optimism alone. “If I’m wrong, we won’t be able to sell the season tickets,” he said. The ticket drive is expected to start next month.

Bravo, Mr. Foley. We wish you the best of luck and applaud you.

We’re about to find out if valley residents really do want big-league sports — and it won’t cost the public anything.