NBA close to choosing winning Las Vegas expansion bid at $12B-$13B: Report

The NBA is poised to select a winning ownership group for its Las Vegas expansion franchise from a pool of three finalists, ESPN reported. The league expects the winning bid to fall between $12 billion and $13 billion. The three remaining Southern Nevada consortia are: a group led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie; a joint bid from NHL Vegas Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo; and a partnership featuring former Milwaukee Bucks co‑owner Marc Lasry and Canadian billionaire Steve Apostolopoulos. ESPN did not specify when a decision might be announced, noting only that it could come “in the precise near future.” The Las Vegas Jacks, which includes Colangelo, former NBA player and coach Vinny Del Negro, and ex‑Turner Sports president David Levy, have allied with Foley’s own group after four months of talks, according to ESPN. Should the Foley/Colangelo consortium prevail, plans call for a new arena to be built to host the NBA expansion team while the Golden Knights continue to play at T‑Mobile Arena. The Jacks have been collaborating with Manica Architecture on a venue design, a source familiar with the matter previously told the Review‑Journal. Governor Joe Lombardo and his staff have maintained regular contact with the bidders and the NBA as the league evaluates adding a Las Vegas franchise, said Lombardo spokesperson Drew Galang. “Those conversations have been productive, and we’re encouraged by where things stand,” Galang said in a statement last week. Lombardo has been involved since before the NBA’s March announcement that it was formally exploring Las Vegas and Seattle for expansion teams. He met with NBA legend Earvin “Magic” Johnson in February to discuss the city’s expansion prospects; Johnson’s group has since withdrawn from consideration. The governor’s confidence in Las Vegas as a viable NBA market has not wavered. “We remain confident that Las Vegas is the right city for NBA expansion, and the Governor is prepared to work closely with the league and the successful ownership group to ensure a new franchise can instantly become part of the fabric of our community and state,” Galang said. “Governor Lombardo and his team continue to stay engaged throughout the process and will work with the league every step of the way.” The story is developing; updates will follow.