The National Basketball Association is closing in on a decision regarding the ownership group for its incoming expansion franchise in Las Vegas, with the final selection expected shortly, according to a report by Shams Charania of ESPN. The league’s expansion process zeroes in on an entrance fee and arena package exceeding billions of dollars US, setting a staggering financial watermark for the NBA’s entry into the Silver State.
League officials plan to work through an approval timeline concluding before the end of December. The process covers two distinct expansion markets, with Las Vegas taking priority over Seattle in the sequence. While Seattle’s Climate Pledge Arena already stands ready to host a basketball team alongside the NHL’s Seattle Kraken, the Las Vegas project requires the construction of a brand-new arena. Because a venue must still be built in Nevada, the league is moving that dossier forward first, paired with a heavier volume of lucrative ownership bids.
The Three Finalist Groups Vie for Las Vegas Ownership
According to sources cited by ESPN, the bidding has narrowed to three finalist ownership groups. The trio features prominent figures spanning retail, real estate, and professional sports ownership:
- Nancy Walton Laurie and Bill Laurie: Nancy Walton Laurie belongs to the family behind Walmart, while her husband, Bill Laurie, previously owned the St. Louis Blues of the NHL.
- Steve Apostolopoulos and Marc Lasry: Apostolopoulos is a Canadian businessman who previously pursued the NFL’s Washington Commanders and the NHL’s Ottawa Senators. Lasry brings prior NBA ownership experience as a former stakeholder in the Milwaukee Bucks.
- Bill Foley and Jerry Colangelo: Foley currently owns the NHL’s Vegas Golden Knights. Colangelo is a former owner of the Phoenix Suns and the Arizona Coyotes—notable for relocating the Winnipeg Jets to Phoenix in 1996—and is enshrined in the Naismith Memorial Basketball Hall of Fame as a builder.
Timeline and Expansion Order Implications
The NBA’s deliberate sequencing dictates that Las Vegas will receive its franchise selection before the league turns its full attention to Seattle. League leadership reportedly intends to direct ownership groups that miss out on the Las Vegas franchise toward Washington, offering those unsuccessful bidders a secondary pathway to secure a team.
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