The NBA is expected to select the winning bid for ownership of the Las Vegas expansion team in the very near future, with a price of at least $12 billion to $13 billion for the franchise and a new arena, from among three finalist groups — Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo — sources told ESPN.
The league, which will hold a formal approval process by the end of December on two expansion teams, is closing on Las Vegas before Seattle for several reasons. Las Vegas has a livelier bidding market with higher offers, and the process consists of the logistics of developing a new arena versus Climate Pledge Arena already being a ready-made home for the Seattle team.
