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The team name and logo for the Vegas Golden Knights are displayed on T-Mobile Arena's video wall after the Vegas Golden Knights was announced as the name for the Las Vegas NHL franchise on Nov. 22, 2016 in Las Vegas, Nevada. The team will begin play in the 2017-18 season.

Ethan Miller/Getty Images

The NHL's newest team is named the Vegas Golden Knights.

Owner Bill Foley and NHL commissioner Gary Bettman announced the Las Vegas expansion franchise's official name and revealed its logo and colours Tuesday night at a gala ceremony for about 5,000 fans outside T-Mobile Arena, where the Golden Knights will begin play next season.

The Golden Knights' logo is a simple front view of a fighting helmet with a conspicuous "V" in the middle. Their colours are steel grey, gold, red and black.

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"Our logo and our name is really going to exhibit the highest element of the warrior class – the knight," Foley told the crowd. "The knight protects the unprotected. The knight defends the realm. The knight never gives up, never gives in, always advances, never retreats. And that is what our team is going to be."

Related: Everything you need to know about NHL expansion

The NHL awarded its 31st franchise in June to this gambling mecca in the Mojave Desert. Foley is a billionaire businessman who sold the league on the potential of being the first major pro sports franchise in the growing market while playing in a new $375-million arena already constructed on the south end of the Strip.

The franchise made its name announcement near an outdoor rink where young hockey players braved the 58-degree nighttime temperatures in Vegas's desert basin. The ceremony endured technical difficulties when a video presentation refused to run, prompting Foley and Bettman to kill time.

Bettman grinningly encouraged the fans to boo him, saying it's a true indication that Las Vegas is a real NHL city.

"Believe me, we won't screw up the first game like we screwed up the video," Foley said with a laugh.

Foley paid $500-million as an expansion fee to the other 30 ownership groups, and the West Point graduate strongly considered naming his team the Black Knights in honour of his Army roots.

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He changed his mind during the lengthy process of developing a brand and an identity for his team, but Foley kept a military touch in the name despite some local criticism for its lack of a connection to Las Vegas. Foley has said the team didn't want to include an overt gambling reference in the name, but also considered Desert Knights and Silver Knights.

Fans chanted Foley's name when he stepped to the podium to make the announcement.

"I'm very proud of our name, and I'm very proud of our logo," Foley said.

The team has been enthusiastically received in southern Nevada, which is getting the first major professional sports franchise in a market of nearly 1.4 million. Foley led a successful drive that landed several thousand deposits on season tickets months before the NHL officially granted a team to the city.

The Golden Knights immediately began selling team merchandise at the announcement.

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