NBA Will Select Three Las Vegas Expansion Finalists
The league narrowed its search to three potential ownership groups for a new franchise.
Updated on Sept. 29, 2026 in Basketball
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The NBA has identified three finalist ownership groups to potentially lead a new expansion franchise in Las Vegas. The project includes plans for a new arena with a total cost estimate between $12 billion and $13 billion.
Why it matters
Securing an NBA expansion team represents a major shift for the Las Vegas sports market and the league's overall footprint. The significant capital required for both the franchise and facility construction highlights the scale of this expansion effort.
The projected total investment for the new Las Vegas franchise and accompanying arena is between $12 billion and $13 billion. The league is currently evaluating three distinct ownership groups before making a final selection.
The players
Nancy Walton Laurie
She is a member of the family that founded Walmart and an American billionaire.
Bill Laurie
He is a real estate developer and former owner of the St. Louis Blues.
Steve Apostolopoulos
He is an investor who has previously been linked to high-profile sports franchise acquisitions.
Bill Foley
He is a prominent businessman who serves as the owner of the Vegas Golden Knights.
Jerry Colangelo
He is a former NBA executive and a Basketball Hall of Famer known for his leadership roles in professional sports.
The details
The finalist groups competing for the bid include Nancy Walton Laurie and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo. These groups are competing to bring the first permanent NBA franchise to Las Vegas.
Timeline
September 2026: The finalist ownership groups for the Las Vegas bid were revealed.
Future: The NBA will conduct the final selection of the winning ownership group.
Season Trajectory
The addition of a new franchise would fundamentally alter the Western Conference landscape and the league's long-term competitive balance. It sets a new precedent for sports ownership scale and arena investment requirements in the current professional basketball era.
The eventual selection of an ownership group will confirm the specific timeline for the franchise's debut and its future integration into the NBA schedule. This decision will dictate the regional economic impact and the logistics of professional basketball home games in the city.
The takeaway
The multi-billion dollar investment plan underscores the massive financial shift toward luxury sports infrastructure in major metropolitan hubs. Readers should monitor future league announcements to see how this expansion affects the league's long-term conference alignment.
Further reading
Learn more about the latest developments regarding Basketball in the region.
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