NBA weighs three finalist bids for Las Vegas expansion team

The NBA is reviewing three finalist bids for a prospective Las Vegas expansion team and is expected to select a preferred ownership group soon, according to reporting on the league’s process. The choice would not itself amount to final approval of an expansion franchise: a formal approval process is expected by the end of 2026, and the league has not announced a winner. The finalists are groups led by Nancy and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo. The reported estimate for the franchise and a new arena combined is at least $12 billion to $13 billion. That figure is an expectation, not a disclosed winning bid or a completed transaction. The NBA’s Board of Governors voted in March to formally explore expansion in Las Vegas and Seattle. The league has been assessing prospective ownership groups in both cities, with the Las Vegas selection expected to come first. Reports say the league may also consider whether unsuccessful Las Vegas bidders want to take part in the Seattle process. Neither expansion team has received final approval. Arena arrangements remain unresolved.