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sep 30 2026The NBA has three finalists for its new Las Vegas franchise. Bids range between $12 billion and $13 billion, and the city currently leads Seattle in the race for the next expansion team.
What the league demands
Money alone isn't enough. Each proposal must present an economically viable project and commit to building a new arena for the 2028-29 regular season.
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The three candidates
Nancy Walton Laurie and Bill Laurie. The couple resides in Henderson, Nevada, and has a net worth of $17 billion according to Forbes. She is the daughter of James Walton, one of Walmart's founders.
Steve Apostolopoulos and Marc Lasry. The Canadian magnate previously attempted to buy the Hornets in 2003 and ultimately settled on the Washington Commanders of the NFL. Lasry, meanwhile, was a co-owner of the Bucks until 2023.
Jerry Colangelo and Bill Foley. This is the most recent alliance, formed just four months ago, and the one with the most basketball weight. Colangelo was owner of the Phoenix Suns, general manager of Team USA from 2005 to 2021, a Hall of Fame member, and four-time NBA Executive of the Year. Foley is owner of the Vegas Golden Knights of the NHL.
Why the figure matters
Thirteen billion dollars would place this franchise among the most expensive sports operations in history, and well above what an NBA team cost just a few years ago.
It's the same phenomenon inflating player contracts: the new $10 billion television deal has skyrocketed the valuation of everything surrounding the league.
