This is the fierce battle for the new Las Vegas franchise

The NBA is about to select the owner of its future Las Vegas franchise, in a move that could become the most expensive in the history of American sports. According to Shams Charania, the league is considering three finalist bids, and the combined cost of the franchise and a new arena would be between $12 billion and $13 billion. The selection would occur "in the very near future," before the formal approval process expected by the end of the year.

The figures give an idea of how far NBA's economic growth has come. The upper end of the range, $13 billion, would exceed the $12.5 billion valuation of the Lakers after their recent sale, although it should be clarified that the $12 billion-$13 billion for Las Vegas includes both the franchise rights and the expected cost of the new arena. It is not, therefore, an amount equivalent solely to the purchase price of the team.

Three groups are competing for a historic franchise

The NBA has narrowed it down to three groups that continue in the race for Las Vegas:

• Nancy Walton Laurie and Bill Laurie: Nancy is an heiress of the Walton family, founders of Walmart, and the couple has an estimated net worth of about $17 billion. Bill Laurie was the owner of the St. Louis Blues in the NHL, and both live in the Las Vegas area. 

• Steve Apostolopoulos and Marc Lasry: Apostolopoulos is a Canadian entrepreneur who previously tried to acquire other major sports franchises. Lasry was a co-owner of the Milwaukee Bucks from 2014 to 2023, before selling his stake. 

• Bill Foley and Jerry Colangelo: Foley is the majority owner of the NHL's Vegas Golden Knights, while Colangelo was owner of the Phoenix Suns and is one of the historic figures of the NBA. Both groups decided to combine their bids. The project also includes figures such as Vinny Del Negro, Jay Williams, and David Levy. 

The race has, therefore, reached its final phase. It is no longer a question of whether Las Vegas will have an NBA franchise, but rather determining who will own it and how the project will be built.

A new arena is the other piece of the puzzle

The major downside Las Vegas has compared to Seattle is that it currently does not have an arena fully prepared to become the home of an NBA franchise.

T-Mobile Arena, where the Golden Knights play and which has already hosted significant NBA events, appears as a possibility. However, Adam Silver recently confirmed that it would require substantial renovations to meet the league's requirements.

Thus, a crucial part of the operation will be the construction of a new arena in Las Vegas, which will significantly raise the total cost of the expansion. The group formed by Foley and Colangelo is indeed considering building a new facility, while the T-Mobile Arena could serve as a temporary solution if needed.

The location also has a huge strategic component. Las Vegas has become one of the major sports hubs in the United States: it has the NFL's Raiders, the Golden Knights, and the WNBA's Aces, in addition to hosting the NBA's Summer League every summer. The city is also anticipating the arrival of an MLB franchise.

Las Vegas could become the most valuable franchise in the NBA

If the project reaches $13 billion, Las Vegas would enter an unprecedented economic dimension for a basketball franchise. The amount would be higher than the Lakers' valuation and would make the new team the highest-valued franchise in the NBA at the time of its birth, although this comparison must be understood considering that in Las Vegas, the cost of the arena is included.

The move also reflects the enormous appeal the league finds in new markets. The NBA has not added a franchise since 2004 and is now considering doing so simultaneously in Las Vegas and Seattle, bringing the championship to 32 franchises. The expectation is that both could start competing in the 2028-29 season, as long as the approval process goes smoothly.

Seattle waits while Las Vegas gains the edge

The NBA is now prioritizing the resolution of the Las Vegas case. There are more bids in play, with greater economic competition, and the infrastructure situation makes the process more complex.

Seattle presents a different scenario. Climate Pledge Arena is already ready to host an NBA franchise, so the league has a much simpler operational situation there. Samantha Holloway, the majority owner of the Seattle Kraken, remains one of the key figures in the process, while a second bid has also emerged.

There is even a particularly interesting possibility: some of the groups that lose the race for Las Vegas could later join the bidding for Seattle, one of the reasons why the NBA wants to resolve first who gets the Nevada franchise.

The final decision has not yet been made. The league plans to complete the formal approval process for both expansions before the end of 2026. But the fact that three groups have reached the final phase and that the bids place the project at $12 billion-$13 billion confirms that the NBA is about to open one of the most important stages in its recent history.

This is an automatic translation. You can read the original news, Así está la salvaje lucha por la nueva franquicia de Las Vegas