The price tag on a Las Vegas NBA team just hit a new level. ESPN NBA insider Shams Charania said Thursday on ESPN NBA Tip-Off that all three groups competing for a Las Vegas expansion franchise have put valuations of $10 billion or more on the team, and that the league is moving closer to choosing a winner. He said a decision on the Las Vegas group is expected by the end of December.
Key Takeaways
- Three finalist groups have each valued a Las Vegas NBA team at $10 billion or more, according to ESPN’s Shams Charania.
- The finalists: Nancy Walton Laurie and Bill Laurie; Golden Knights owner Bill Foley with Hall of Famer Jerry Colangelo; and Canadian billionaire Steve Apostolopoulos with Marc Lasry and Kenny Smith.
- A pick on the Las Vegas group is expected by the end of December 2026.
- ESPN has reported that new teams would start play in the 2028-29 season, and that the winning group is expected to spend another $2 billion to $3 billion on a new arena.
Who is bidding
The three groups have been known for weeks. One is led by Nancy Walton Laurie and her husband, Bill Laurie. Another pairs Vegas Golden Knights owner Bill Foley with Basketball Hall of Famer Jerry Colangelo. The third is led by Steve Apostolopoulos and includes former Milwaukee Bucks co-owner Marc Lasry and “Inside the NBA” analyst Kenny Smith.
Smith confirmed his role in the Apostolopoulos group, FOX5 reported, but said he could not speak to the accuracy of the reported dollar figures. He said the process has taken longer than he expected and is coming down to the wire.
What still has to happen
Choosing a buyer is not the final step. ESPN reported in October that Commissioner Adam Silver wants an expansion vote before the end of 2026 and that approval needs 23 of the league’s 30 owners. Owners and bidders were also still debating where a new Las Vegas arena should go. Seattle’s expansion bid is on hold until the Las Vegas decision is made, ESPN reported.
This story is news only and is not investment advice.
What it means for locals and visitors
A $10 billion team would be one of the biggest sports deals in Las Vegas history, on top of the Raiders, Golden Knights, Aces and the coming A’s ballpark. For locals, a new arena could mean years of construction, new jobs and more event nights. For visitors, it would add another reason to plan a trip around a game. For now, nothing is final until NBA owners vote.
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