The National Basketball Association is moving quickly toward selecting a winning bid for a new franchise in Las Vegas. NBA Commissioner Adam Silver has indicated the league hopes to finalize the expansion decision before the end of 2026.
Who is in the running
Three groups have emerged as finalists. The first is the Laurie family, headed by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie, longtime supporters of Nevada sports. The second consortium includes Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo, both seasoned sports executives with deep ties to the region. The third bid is a partnership between private‑equity investors Steve Apostolopoulos and Marc Lasry, which also counts former NBA player‑turned‑analyst Kenny “The Jet” Smith among its members.
Financial stakes
According to ESPN’s Shams Charania, each finalist is prepared to meet a franchise fee of at least $10 billion, underscoring the massive financial commitment required to bring an NBA team to the desert. While the exact terms of the bids remain confidential, the league’s expansion fee is expected to set a new benchmark for professional sports franchises.
What the bidders say
Kenny Smith, speaking on “Inside the NBA,” noted that the process has taken longer than anticipated but praised the insight he has gained about the expansion mechanics. “We’ll see what happens,” Smith said. “It’s right down to the wire, and I haven’t lost a lot in the playoffs … when it gets to the wire.”
Impact on the community
Las Vegas officials and local business leaders have welcomed the prospect of an NBA team, citing potential economic benefits such as job creation, increased tourism, and new opportunities for local vendors. The city’s existing sports infrastructure, including the state‑of‑the‑art arena that hosts the Golden Knights, positions Las Vegas as a ready host for a major basketball franchise.
Next steps
Commissioner Silver’s timeline suggests that the league will announce the winning bid by the close of 2026, after which the selected ownership group will begin the process of building a roster, securing a venue, and integrating the new team into the NBA’s schedule.
Residents and fans are encouraged to stay tuned for further updates as the NBA moves toward what could become a historic addition to the Southern Nevada sports landscape.
Original reporting: News 3 KSNV Las Vegas (local) — read the source article.
