The NBA isn’t merely flirting with Las Vegas anymore. It appears to be picking an owner.
The league has narrowed the race for a Las Vegas expansion franchise to three finalist groups and expects to select the winning bid “in the very near future,” according to Shams Charania of ESPN.
And apparently you’ll need to check underneath the couch cushions before submitting an offer.
The expected price for the franchise and a new arena is at least $12 billion to $13 billion. Yes, billion.
The three finalist groups are Walmart heiress Nancy Walton Laurie and former Blues owner Bill Laurie; Canadian billionaire Steve Apostolopoulos and former Bucks co-owner Marc Lasry; and Golden Knights owner Bill Foley and former Suns owner Jerry Colangelo. That’s not exactly a collection of people digging around for loose change.
ESPN reports that the NBA intends to hold a formal approval process for two expansion teams by the end of December, with Las Vegas further along in the process than Seattle.
Seattle remains very much in the picture, with discussions continuing on bringing back the SuperSonics. But Vegas appears to be first in line.
None of this qualifies as official until NBA owners approve expansion. Still, we’re well beyond the maybe someday stage. The NBA is choosing between ownership groups. Billions of dollars are being lined up. Arena plans are being made.
Las Vegas is starting to sound a lot less like an expansion possibility. It’s starting to sound like the NBA’s 31st team.
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