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

Mick Akers, Las Vegas Review-Journal on Sep 29, 2026

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LAS VEGAS — The NBA is set to choose a winning ownership group for the league’s Las Vegas expansion team from a list of three finalists, according to ESPN. The fee will be between $12 billion and $13 billion, the network reported.

The three remaining Southern Nevada bid groups include one led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie; a combined bid from NHL Vegas Golden Knights owner Bill Foley and former NBA Phoenix Suns owner Jerry Colangleo; and one that includes former NBA Milwaukee Bucks co-owner Marc Lasry and Canadian billionaire Steve Apostolopoulos, ESPN’s report noted.

ESPN report didn’t give a timeline on when the decision could come down, outside of saying “in the very near future.”

The Las Vegas Jacks group that includes Colangelo, former NBA player and coach Vinny Del Negro and former Turner Sports President David Levy joined forces with Foley, who was pursuing the expansion team with his own group. The two sides began talking about the potential to partner four months ago, according to ESPN.

If the Foley/Colangelo group wins the bid, plans are for a new arena to be built to house the NBA expansion team, with the Knights still playing at T-Mobile Arena, according to the report. The Jacks have been working with Manica Architecture on a design for their potential Las Vegas arena, a person with knowledge of the situation previously told the Las Vegas Review-Journal.

Gov. Joe Lombardo and his staff have been in regular contact with the remaining bid groups and the NBA, as the league mulls the possibility of adding a team in Las Vegas, according to Lombardo spokesman 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 engaged in the process since even before the NBA announced in March that it was officially exploring Las Vegas and Seattle for expansion teams. Lombardo met with NBA legend Earvin “Magic” Johnson in February to discuss his group’s expansion plans. The MAGI have since dropped out of the running.

Lombardo’s stance on Las Vegas’ ability to become a host city for a team hasn’t wavered as the process has played out.

“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 immediately 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.”

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