NBA Las Vegas Franchise Valued at $12-13 Billion
ESPN reports the NBA's upcoming Las Vegas expansion team, including its new arena, will be valued at $12-13 billion as ownership decision nears.
The NBA's Las Vegas expansion franchise, together with its future arena, will be valued at no less than $12-13 billion, ESPN has reported, as the league closes in on a decision over the club's ownership group.
Three groups remain on the shortlist: Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo.
The NBA plans to complete the formal approval process for two new franchises by the end of December.
The league's attention for now sits with Las Vegas rather than Seattle. Competition among bidders there is stronger, and the offers on the table are larger. Groups that miss out in Las Vegas may still get a chance to bid for the Seattle franchise once that process opens.
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