"Looking Forward to the Next Step"… Report Narrows NBA Las Vegas Race to 3 Groups, Cost $12 billion–$13 billion

ESPN reported that the candidates for an NBA expansion team in Las Vegas have been narrowed to three consortiums. The cost of $12 billion–$13 billion is an estimate combining team rights and a new arena, and a Board of Governors vote remains before the franchise is confirmed.

Translated from Korean with AI assistance. Read the original. Sources and original publication dates are retained.

Summary in three lines

According to ESPN, the Las Vegas candidates are 3 groups: the Walton Laurie, Apostolopoulos and Foley sides.
The reported $12 billion–$13 billion is an estimate combining team rights and a new arena, not a bid amount for each candidate.
Creating a new franchise requires approval from at least 23 of the 30 teams, and the date of the final approval meeting has not been officially confirmed.

"We look forward to taking this next step and engaging with interested parties." NBA Commissioner Adam Silver said this when he announced approval to explore expansion on March 25, 2026. 6 months later, on September 29, a report emerged that those "interested parties" had been narrowed to three. The question is one: whether to read this report as a signal close to a confirmed franchise, or as still the early stage of the process.

3 Candidates for NBA Las Vegas: the Walmart Family, Bournemouth's Owner and a Canadian Businessperson

Sportsnet and Field Level Media, citing a report by ESPN's Shams Charania, described the finalists as three consortiums. The two outlets share the same original source, so it is hard to treat them as independent cross-checks. The starting point is the NBA's official announcement. The Board of Governors approved exploring the possibility of expansion to Las Vegas and Seattle, and tasked the investment bank PJT Partners with assessing the market, owners, arenas and economic impact.

The 3 Reported Consortiums and Their Sports Team Experience

Consortium	Lead figures	Sports team ownership experience
Nancy Walton Laurie and Bill Laurie	Daughter of Walmart co-founder Bud Walton, and that daughter's husband	Former co-owners of the NHL's St. Louis Blues
Steve Apostolopoulos and Marc Lasry	Toronto-born businessperson, former NBA team co-owner	Lasry: Milwaukee Bucks co-owner, 2014–2023
Bill Foley and Jerry Colangelo	Owner of the NHL's Golden Knights and the EPL's Bournemouth (Foley)	Foley: founded an NHL expansion team in 2016, acquired Bournemouth in 2022

The track records differ. The NHL announced Las Vegas expansion on June 22, 2016, with a $500 million entry fee, and the Golden Knights won the Stanley Cup in 2023, just 6 seasons after their founding. The Bournemouth acquisition was announced as completed on December 13, 2022. However, the purchase price of £120 million is a figure reported by AFP, not an officially confirmed amount.

In financial strength, the Walton Laurie group stands out. In Forbes' 2026 annual ranking (as of 2026.03.01), they ranked 134th with an estimated net worth of $20 billion. KNWA's report listed $19.3 billion for the same ranking, a difference of $700 million. Apostolopoulos has a record of failing to acquire the Washington Commanders in 2023 despite offering $6 billion. Personal net worth does not necessarily mean cash available to invest.

Las Vegas Team Cost of $12 billion–$13 billion, 23 Votes Needed for Approval

FOX5 Vegas cited ESPN in reporting $12 billion–$13 billion or more as the estimated scale combining team rights and a new arena. Confirmed bid amounts for each candidate, the final expansion fee and the new arena budget were not confirmed in official materials. A simple comparison with Foley's NHL entry fee gives 24–26 times ($12 billion–$13 billion ÷ $500 million). However, this figure includes arena costs, so it is not a like-for-like comparison.

Reported and Disclosed Amounts and Their Nature

Item	Amount	Nature
NBA Las Vegas team rights + new arena	$12 billion–$13 billion or more	Estimate reported by ESPN
NHL Las Vegas entry fee (2016)	$500 million	NHL official announcement
Application fee under the NBA constitution	$1 million	Separate from the entry fee
AFC Bournemouth purchase price (2022)	£120 million	Figure reported by AFP

Narrowing the field is not a franchise confirmation. Article 4 of the NBA constitution requires, in order, a written application, an investigation by the commissioner, and approval by at least 3/4 of the Board of Governors. AP reports that under a 30-team structure, at least 23 teams must vote in favor. Conversely, opposition from just 8 teams would block approval. The board's decision in March was also an approval to explore the possibility of expansion, not an approval to create a franchise.

On timing, there are only targets and no confirmed dates. According to NBA.com, Commissioner Silver reportedly said on September 16 that the goal is to decide whether to expand by the end of the year. Field Level Media, citing ESPN, reported the target for joining the league as the 2028-29 season at the earliest. FOX5 Vegas's follow-up report on September 30 also said the timing of announcing the winning bidder is unclear. The premise that a new arena will be built is included in the cost reports. Whether an existing arena would be used temporarily has not been confirmed.

Related official sites

NBA official website — check the official announcements of the expansion review and the Board of Governors' decision
Vegas Golden Knights official website — news on the Las Vegas NHL team that Foley founded
AFC Bournemouth official website — official information on the EPL club owned by Foley's side

Featured image · Archive photo · Not a scene from a current game in the article · Photo: Wikimedia Commons (Dietmar Rabich), CC BY-SA 4.0