By Field Level Media
Sep 30 (Field Level Media) – The NBA is down to three finalists for ownership of its Las Vegas expansion team, ESPN reported Tuesday.
The league is reviewing bids from Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo. The NBA expects to select a winner in the very near future, according to the report, with the formal approval process held before the end of the year.
Bill Laurie is a former owner of the NHL’s St. Louis Blues, and his wife Nancy Walton Laurie is the daughter of Walmart co-founder James “Bud” Walton. The Walton family has been involved with other high-profile sports franchise purchases, as Nancy’s cousin Rob Walton is the principal owner of the NFL’s Denver Broncos.
Apostolopoulos has bid on teams before, failing to come to agreements to purchase the NHL’s Ottawa Senators and the NFL’s Washington Commanders. His partner, Lasry, was a co-owner of the Milwaukee Bucks from 2014-23.
Colangelo has Basketball Hall of Fame credentials as a longtime owner of the Phoenix Suns and member of multiple owners committees over the years. His partner, Foley, is the majority owner of the NHL’s Vegas Golden Knights and is actively seeking to bring an NBA team to the city.
The Golden Knights’ home, T-Mobile Arena, is just 10 years old and could serve as a home for an NBA team — it was the site of the NBA Cup in recent years. But ESPN reported that a new arena would be built if Foley and Colangelo win the bid.
The NBA is targeting a start date as early as the 2028-29 season for expansion teams in both Las Vegas and Seattle, ESPN reported. The runners-up in Vegas could factor in the Seattle bidding, per the outlet.
(–Field Level Media)
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