NBA Narrows Down Las Vegas Expansion Ownership to Three Contenders

The NBA is advancing in its plans for expansion into Las Vegas, having identified three final ownership groups out of approximately 184 that expressed interest. The valuation for a potential franchise and a new arena is estimated to fall between $12 billion and $13 billion. The league could choose a winning group in the near future, with formal approval expected by the end of 2026.

The finalists include Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo. While the Lauries bring financial backing and prior sports ownership experience, Foley’s interest is bolstered by his connection to NHL’s Golden Knights. The combined bid from Foley and Colangelo intends to construct a new arena, distinct from the existing T-Mobile Arena, catering to next-generation entertainment experiences.