Marc Lasry says his group is still in hunt for Las Vegas NBA expansion team

Mick Akers, Las Vegas Review-Journal on Oct 28, 2026

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LAS VEGAS — Former Milwaukee Bucks co-owner Marc Lasry said his Las Vegas NBA expansion bid group is still in the mix, despite reports stating that they were out.

Lasry was on CNBC on Wednesday clearing the air, stating he and his partner, Canadian billionaire Steve Apostolopoulos, were still one of the finalist groups vying for a Las Vegas expansion team, refuting a Sports Business Journal report that the group had dropped out of the process. But Lasry did note he believes one of the groups came in above his group’s bid of between $9 billion and $10 billion.

“We’ve always been in, the question is what’s the price,” Lasry said. “So, we bid, we’ve been told by the NBA that we’re one of two or three of the finalists. So we’re going through the documentation. I think the other side’s higher, but I don’t really know.”

Lasry sold his 25% stake in the Bucks and exited the NBA in 2023, but the allure of Las Vegas was enough to bring him back to the table to rejoin the league.

“Vegas is a little different than Milwaukee,” Lasry said. “I think Vegas could be one of the most profitable franchises. That’s why we’re involved with it.”

The Los Angeles Lakers sold this year for a record $12.5 billion, to former Walt Disney CEO Bob Iger and venture capitalist Josh Kushner. Lasry said that transaction reset the market, which is why a Las Vegas team is fetching upwards of $10 billion for the expansion fee. Despite the high buy in, he believes Las Vegas is worth the hefty investment.

“The Lakers are unique; the Knicks are unique; those are the two big franchises,” Lasry said. “I think Vegas can be the third one. So that’s actually why we’ve been very involved and actually why we think it’s something that can be great.”

Iger and Kushner were pursuing the Las Vegas NBA expansion franchise prior to their surprise purchase of the Lakers from former owner Mark Walter.

“I think actually Josh did a brilliant move there,” Lasry said. “Because you knew where Vegas was going to trade at, which was going to be around nine or 10 (billion). Would you pay 25 percent more for the Lakers? The answer is yes. So, I think what Josh and Bob Iger did was brilliant in getting that and I would tell you I think they’re going to make a fortune of money on that team.”

Lasry said he believes the winning Las Vegas expansion bid group will be chosen within the next two to four weeks.

“I think pretty quickly we will (know),” Lasry noted.

The NBA’s international appeal is another factor that has drawn Lasry back to wanting to be part of an ownership group. Team valuations have continued to rise over the years and the league having a worldwide appeal is a big part of that, he said.

“You’re seeing interest in the NBA continue to grow,” Lasry said. “But it’s actually growing internationally and you’re seeing it in NBA Europe, NBA Africa, you’re seeing in Asia more and more people watching it.

“I would tell you the NFL is different. It doesn’t have as big of an interest in Asia. But basketball is probably the most popular sport or soccer is the most popular sport.”

The other remaining groups include one led by Walmart heiress Nancy Walton Laurie, her husband Bill Laurie and Silver Lake co-CEO and Raiders minority owner Egon Durban and others that includes Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo.