A second bidder for a potential expansion NBA franchise in Seattle has surfaced with a plan to build a new arena, Christian Clark and John Hollinger of The Athletic report.

This development comes at a crucial time, as the league is moving closer to making a decision on expansion with Las Vegas and Seattle the frontrunners for new teams. The league and PJT Partners, the financial firm hired to advise on expansion exploration, asked bidders who have expressed interest in bringing a team to Las Vegas or Seattle to provide information earlier this month. That data included cap-table sketches, names of potential investors and how much they would be willing to pay for the new teams.

The new bidder for a Seattle franchise is planning to build a new arena on land near Marysville, a Washington town located 35 miles north of Seattle. BlackSun Private Equity, a New York-based firm, is working with the Tulalip Tribes to build the arena on tribal-owned land.

“Our hope is that the fans really are the drivers of this,” Nick Rathod, chief global strategy and communications officer for BlackSun, said. “Obviously, the NBA makes the final decision. But we want the fans to help make the decision here because we feel like our bid coming into this is different and the most compelling. We are coming in with the Tribes, who were the original inhabitants of that land. We want to center the local community and get feedback from the local community. “

Rathod said BlackSun’s goal is fully committed to keeping the new franchise in Seattle.

“We want it to stay in that community forever,” he said. “We will do everything we can to make sure that happens. One of the challenges initially when the Sonics left Seattle had to do with the stadium there. We feel like the land we have designated now with the Tulalip Tribes is one where families can come.”

BlackSun CEO Atonn Muhammad told The Seattle Times it can add enough investors to make a bid for up to $8.1 billion.

One Roof Sports and Entertainment, an umbrella company headed by Samantha Holloway that owns a majority stake in the NHL’s Seattle Kraken, is the only other known bidder for the potential Seattle expansion franchise. One Roof Sports also controls a stake in Climate Pledge Arena, which is located just north of Seattle’s downtown.