Sources say the NBA will crown a Las Vegas expansion winner very soon, ESPN’s Shams Charania reports. Three contenders are in the mix, with costs projected at $12‑13 billion for a franchise and arena. Can Vegas finally land its own NBA team?
The finalists break down as follows:
- Nancy Walton Laurie and Bill Laurie – the Walmart heiress and former St. Louis Blues owner – reside in Vegas and, per Forbes, boast a $17 billion net worth.
- Steve Apostolopoulos and Marc Lasry form a billionaire duo: Apostolopoulos, a Canadian real‑estate mogul, once eyed the Hornets; Lasry, ex‑Bucks co‑owner, sold his stake to Jimmy Haslam. Their team includes brothers Jim and Peter Apostolopoulos.
- Bill Foley and Jerry Colangelo have joined forces, merging the Golden Knights owner’s resources with the former Suns executive’s Las Vegas Jacks group. Their roster features David Levy, Jay Williams and Vinny Del Negro, and they aim to build a new arena. Will this alliance deliver the arena and team the league hopes for?
The Board of Governors gave the green light in March to explore expansion slots in both Las Vegas and Seattle. Over recent months the league has vetted ownership groups, and momentum suggests both markets could soon welcome new clubs.
Charania notes a formal approval process should wrap up before year‑end. Vegas takes priority now because more bidders are in play and there’s no ready‑made venue like Seattle’s Climate Pledge Arena.
In my view, repurposing T‑Mobile Arena is a clever stopgap, though commissioner Adam Silver warned renovations are needed to meet NBA standards. It could serve temporarily while a dedicated arena rises.
Another reason for the Vegas focus, Charania adds, is to keep runner‑up groups available for Seattle. Samantha Holloway, the Kraken’s majority owner, leads the Seattle push, with at least one other contender lurking.