The NBA is expected to know the owner of the new Las Vegas expansion team sometime in the very near future, according to a report from ESPN insider Shams Charania on Tuesday. The reported price tag for the expansion franchise and new arena is "at least" $12-13 billion. There are three finalist ownership groups competing for the NBA's latest expansion franchise: Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; Bill Foley and Jerry Colangelo.
The NFL's Dallas Cowboys are currently the world's most valuable sports franchise with an estimated value of 17 billion, according to Forbes. The Los Angeles Lakers sold for an NBA record-breaking price of $12.5 billion earlier this summer. "ESPN Sources: The NBA is expected to select the winning bid for owner of the Las Vegas expansion team in the very near future, with a price of at least $12-13 billion for the franchise and new arena among three finalist groups – Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; Bill Foley and Jerry Colangelo," Charania reported on Tuesday.
Las Vegas is the location for one of two expansion teams that will go through the formal approval process this coming December. The runner-up bidders for the Las Vegas expansion team could potentially join the bidding process for the new franchise in Seattle.
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