We Are Las Vegas

NBA Will Name Las Vegas Franchise Ownership Finalists

The league narrowed potential bidders for the local expansion team to three ownership groups in September 2026.

Updated on Sept. 29, 2026 in Basketball

Expressive editorial sports illustration of a basketball player in action, featuring vibrant orange and navy colors, capturing the anticipation of a new team.
The NBA has narrowed the list of ownership finalists for a potential Las Vegas expansion franchise to three competing groups. AI Illustration. Upload story photo >

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Local sports fans and potential stakeholders should note that the NBA has selected three finalist groups to compete for a Las Vegas expansion franchise. This process sets the stage for a new professional team and a major arena project in the valley.

Why it matters

The development marks a significant shift in the local sports economy, with the project expected to carry a total cost between $12 billion and $13 billion. The league has yet to select the winning bid, leaving the specific local economic impact still to be determined.

The projected cost for the new franchise and arena ranges from $12 billion to $13 billion. The final ownership group has yet to be selected by the league.

The players

Nancy Walton Laurie and Bill Laurie

One of the three ownership groups identified as finalists for the potential NBA franchise.

Steve Apostolopoulos and Marc Lasry

An ownership group selected as a finalist for the Las Vegas NBA expansion bid.

Bill Foley and Jerry Colangelo

The third ownership group designated as a finalist by the NBA for the Las Vegas franchise.

The details

The NBA identified three ownership groups as finalists for the potential Las Vegas expansion: Nancy Walton Laurie and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo. These groups are competing for the right to build a new arena and establish a team in the valley. League officials will move to select a winning bid from among these finalists in the future.

Timeline

  1. The NBA revealed the three finalist ownership groups in September 2026.

  2. The league expects to select the winning ownership bid in the future.

Beyond the Strip

This expansion bid follows the precedent set by the arrival of the Vegas Golden Knights, marking the next stage in the city's transition into a major professional sports market. It builds on recent trends in local stadium development that have reshaped the valley's sports landscape.

Residents should watch for upcoming public hearings regarding potential arena sites as the league nears a final ownership decision. The selection of a winning group will dictate the timeline for construction and the subsequent impact on traffic and local infrastructure.

The takeaway

The league is moving closer to an expansion decision, with three distinct ownership groups now competing for the rights to the city. Interested residents should monitor further league announcements to see which group will lead the development of the proposed $12 billion to $13 billion project.

Further reading

For more on the current state of professional sports in the valley, visit the Basketball section.

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Will a new NBA team provide more economic value than its $12 billion cost?