PO1 CHAD J. MCNEELEY, USN (Public domain), via Wikimedia Commons

Report: NBA to pick new owner of Las Vegas expansion team soon, with $12-13 billion price tag

League officials are closing in on selecting the ownership group for a new Las Vegas franchise, with total project costs projected between twelve and thirteen billion dollars. Three finalist consortiums remain in contention, featuring pairings such as Bill Foley alongside Jerry Colangelo, Nancy Walton Laurie alongside Bill Laurie, and Steve Apostolopoulos alongside Marc Lasry.

While existing local facilities like T-Mobile Arena host hockey and basketball events, league leadership notes that substantial upgrades would be necessary before hosting a professional basketball club, pointing toward the construction of a dedicated venue as part of a larger resort development. Meanwhile, processes regarding a potential Seattle expansion franchise remain focused on different prospective bidders and existing arena infrastructure.

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