Las Vegas could learn who will lead its NBA franchise later today. An announcement is expected Wednesday, September 30, with three finalist ownership groups competing for a deal reportedly worth $12 billion to $13 billion, including the expansion fee and construction of a new arena.
According to ESPN, the league has narrowed the field to groups led by Nancy Walton Laurie and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo. Each brings the financial backing and ownership experience needed to take on an enormous project.
Walton Laurie, the daughter of Walmart co-founder Bud Walton, is a billionaire heiress who lives in Henderson with her husband, former St. Louis Blues owner Bill Laurie. Their local ties add another dimension to a bid built around substantial family wealth.
Apostolopoulos, a Canadian billionaire businessman, has partnered with Lasry, whose tenure as a Milwaukee Bucks co-owner included the franchise’s 2021 championship. Foley brings his experience building the Vegas Golden Knights alongside Colangelo, the longtime NBA executive and former Phoenix Suns owner.
The winning group will also face a major arena undertaking. Commissioner Adam Silver has said T-Mobile Arena needs “significant improvements” to serve as a permanent NBA home. The venue could potentially accommodate the franchise while a new building is developed.
That construction challenge, along with aggressive bidding, has pushed Las Vegas ahead of Seattle in the selection process. Seattle already has Climate Pledge Arena available, and unsuccessful Vegas groups could potentially join its ownership bidding.
Wednesday’s anticipated announcement would identify the winning ownership bid ahead of the formal approval process, which is expected to conclude before the end of December. The league is targeting the 2028–29 season for both expansion teams to begin play.
For Las Vegas basketball fans, today could finally put names and faces behind the city’s NBA future.
