NBA Reviews Three Finalist Bids for $12-13B Las Vegas Team

The NBA is reviewing bids from three finalist ownership groups for its planned Las Vegas expansion franchise, with the winning offer expected to value the team and a new arena at $12 billion to $13 billion, according to ESPN's Shams Charania. A decision is expected "in the very near future," per the report, though the league has not set a public timeline for an announcement.

Who are the three finalist bidders for the Las Vegas NBA team?

Three groups remain in contention, according to ESPN's sourcing: Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo. Laurie is a member of the Walmart founding family and a longtime WNBA owner through the St. Louis-based ownership group tied to the Atlanta Dream. Lasry is a former hedge fund manager who previously held a stake in the Milwaukee Bucks. Foley and Colangelo bring an existing Las Vegas sports footprint — Foley owns the NHL's Vegas Golden Knights, and Colangelo is a longtime NBA executive who built the Phoenix Suns' front office and later ran the Philadelphia 76ers.

How much is the winning bid expected to cost?

ESPN reports the price for the franchise and a new arena will land at "at least" $12 billion to $13 billion — a figure that covers both the expansion fee for entry into the league and the capital cost of building a venue in the market. The report does not break out how much of that figure is allocated to the team itself versus arena construction, and ESPN's sourcing does not specify a final number pending the league's selection.

When will the NBA name a winning ownership group?

According to ESPN, the NBA is expected to choose among the three finalists soon, though no formal date has been disclosed. The review comes as the league has signaled interest in expanding into Las Vegas for several years, with the market's arena capacity and entertainment infrastructure cited repeatedly by league officials as a draw, per prior ESPN reporting referenced in the same story.

What happens to the team's arena plans?

The $12 billion to $13 billion figure includes financing for a new arena, according to ESPN, signaling that whichever group wins will be responsible for venue construction as part of the franchise agreement rather than relying solely on an existing building. Las Vegas has hosted NBA Summer League games for years at the Thomas & Mack Center, but that venue has not been described in reporting as the eventual home for a full-time franchise.

Data box

• Expected valuation for team plus new arena: $12 billion to $13 billion
• Finalist ownership groups: 3

The NBA has not issued a public statement confirming the finalists or the valuation range; the figures originate from ESPN's sourcing. HTT News will update this story when the league confirms a winning bid.