NBA Reviews $12-13B Finalist Bids for Vegas Team — SkimNews
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- NBA is selecting the winning Las Vegas expansion bid in the near future from three finalist groups at $12-13 billion (franchise plus arena), with formal approval targeted by end of December and play as early as the 2028-29 season.
- Las Vegas is being closed before Seattle because of higher bid offers and the need to build a new arena versus Seattle's ready-made Climate Pledge Arena; the Las Vegas runner-up groups could also enter Seattle's bid process.
- Nancy Walton Laurie and Bill Laurie (combined net worth $17 billion, Henderson residents) are one finalist pair; she is Walmart co-founder James "Bud" Walton's daughter, and Bill Laurie is a former owner of the NHL's St. Louis Blues.
- Steve Apostolopoulos and Marc Lasry form a second finalist group; Apostolopoulos pursued the Charlotte Hornets and Washington Commanders before, while Lasry sold his Milwaukee Bucks stake in 2023 at a $3.5 billion valuation after buying the team for $550 million in 2014.
- Bill Foley and Jerry Colangelo lead the third group, combining Foley's Vegas Golden Knights ties with Colangelo's arena plans via the Las Vegas Jacks; Foley (Forbes estimate $2.5 billion) also owns Premier League club AFC Bournemouth.
Why it matters: The $12-13 billion franchise-and-arena price tag dwarfs the prior NBA high ($3.5B for Lasry's Bucks stake in 2023), with formal approval targeted by end of December and play as soon as 2028-29. Vegas is closing before Seattle because Climate Pledge Arena already exists — meaning the runners-up here could migrate to the Seattle bid process.
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