NBA Set to Choose Winner Among Three Finalist Groups

The National Basketball Association may soon select the ownership team that will win its bid for a Las Vegas expansion franchise. ESPN reported Tuesday that three groups remain in contention, with potential winning bids valued between $12 and $13 billion.

Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley alongside Jerry Colangelo are the remaining finalists. Commissioner Adam Silver stated earlier this month that the league is proceeding faster on the Las Vegas expansion than other candidates due to ongoing venue negotiations in the desert city.

Foley, who currently owns the NHL's Golden Knights, has partnered with Colangelo, a former Suns owner and Hall of Famer chairman, for their joint bid. The Walton family group includes Laurie, daughter of Walmart co-founder James Walton; Lasry, former Bucks co-owner; Apostolopoulos, Canadian businessman seeking NFL and NHL franchises.

A formal approval process is expected to take place in December.