Marc Lasry Remains Finalist for Vegas NBA Expansion Team
The league is expected to select a winning ownership group by November following bids nearing $10 billion.
Updated on Oct. 29, 2026 in Basketball
Live Poll
Does the rising cost of professional sports franchises negatively impact the fan experience in your area?
Marc Lasry has confirmed his group remains a finalist for a potential Las Vegas NBA expansion franchise, placing a bid valued between $9 billion and $10 billion. The selection process, which includes a competing group featuring Bill Foley and Jerry Colangelo, is expected to conclude within the next month.
Why it matters
A successful expansion bid would bring a permanent professional basketball team to the Las Vegas Valley, marking a massive shift in the local sports landscape. The outcome hinges on a high-stakes valuation process as the NBA weighs the market potential of the region against historic franchise sale prices.
Investment groups are submitting bids between $9 billion and $10 billion for a Las Vegas expansion team, trailing the $12.5 billion benchmark set by the 2026 sale of the Los Angeles Lakers. The league is expected to name a winner within two to four weeks.
The players
Marc Lasry
An investment professional and former Milwaukee Bucks stakeholder leading a finalist bid for the Las Vegas expansion team.
Bill Foley
A prominent local sports owner and member of a competing group vying for the NBA expansion franchise.
Jerry Colangelo
A veteran sports executive and member of a competing group seeking to bring an NBA team to Las Vegas.
The details
Marc Lasry, who previously divested his 25 percent stake in the Milwaukee Bucks in 2023, is one of two or three finalists vying for the rights to bring professional basketball to the valley. He joins a crowded field of contenders, including a group led by local stakeholders Bill Foley and Jerry Colangelo. The NBA is currently reviewing financial documentation and expansion fees to align with current market valuations before finalizing a decision in November.
Timeline
2023: Marc Lasry sold his ownership stake in the Milwaukee Bucks.
2026: The Los Angeles Lakers were sold for $12.5 billion.
October 28, 2026: Marc Lasry confirmed his group is still in the bidding process.
November 2026: The league is expected to select the winning expansion group.
Beyond the Strip
The valuation of this expansion process is guided by the $12.5 billion sale of the Los Angeles Lakers in 2026. This bid cycle marks a new ceiling for professional sports entry costs in the United States.
Residents should watch for a league announcement in the coming weeks to see which group will lead the prospective organization. The final selection will determine the long-term direction of professional basketball in the valley.
The takeaway
The race for an NBA expansion slot is entering its final stage with bids approaching the multibillion-dollar mark. Follow the upcoming league announcement in November to see if Las Vegas adds a professional basketball franchise to its major league roster.
What happens next
The NBA is scheduled to announce the winning expansion group during November 2026.
Further reading
For more on the development of professional basketball in the region, visit Basketball.
Live Poll
Does the rising cost of professional sports franchises negatively impact the fan experience in your area?
