The NBA is weighing three bids that range between $12 billion and $13 billion for the founding of the new expansion franchise in the city of Las Vegas.
At the moment, three investor groups are the finalists, and it is worth noting that Las Vegas currently holds the edge over Seattle as the next expansion team.
The bid, in addition to presenting a financially viable project, must also include the construction of a new arena that is planned for the 2028-29 regular season.
Among the three finalists are the following candidates:
- Nancy Walton Laurie and her husband Bill Laurie: Both residents of Henderson, Nevada, and with a net worth of $17 billion, according to Forbes. It is also worth noting that she is the daughter of the Walmart owner James Walton.
- Steve Apostolopoulos and Marc Lasry: the Canadian magnate had previously tried to buy the Hornets in 2003, though he ultimately opted for the NFL’s Washington Commanders. The aforementioned Lasry also served as co-owner of the Bucks in 2023.
- Jerry Colangelo and Bill Foley: This last group formed its alliance just four months ago. Colangelo was the owner of the Phoenix Suns, and the aforementioned Foley is the owner of the Las Vegas Golden Knights of the NHL. Colangelo also served as the general manager of Team USA between 2005 and 2021; he is a member of the Basketball Hall of Fame and has been four times named NBA Executive of the Year.
