Three ownership groups remain in the reported race
The NBA is reportedly approaching a decision on the winning ownership bid for a potential Las Vegas expansion team, with three groups remaining in contention. ESPN’s Shams Charania reported the development on Tuesday, September 29.
The reported finalists are Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo. The expected commitment of at least $12 billion to $13 billion covers both the franchise and a new arena. It should not be described as an expansion fee alone.
Yahoo Sports reported that a specific selection date was not known. The report describes an approaching decision, rather than a completed sale or an official announcement that a particular group has been awarded the team.
The league’s owners voted in March to explore expansion in Las Vegas and Seattle, according to the Associated Press. That earlier step opened the process; it did not settle the identity of the eventual owners.
The immediate development to watch is a confirmed ownership selection and the league’s subsequent approval announcements. A team name, final arena plan and first playing season should remain separate questions until they are formally established.