The NBA Could Pick Las Vegas' Team Owner Very Soon, and Bill Foley Is a Finalist

by Ryan Rose

What Happened

On September 29, 2026, ESPN's Shams Charania reported that the NBA is reviewing bids from three finalist groups for a Las Vegas expansion team. FOX5 Vegas followed up on September 30 with a report that the league could soon choose the team's owner. The reports are based on league sources. The NBA has not made a public announcement.

The three finalist groups are:

Bill Foley and Jerry Colangelo. Foley is the majority owner of the NHL's Vegas Golden Knights. Colangelo is the former owner of the Phoenix Suns. ESPN reports Colangelo said in July he was entering the bidding.
Nancy Walton Laurie and Bill Laurie. Nancy Walton Laurie is the daughter of Walmart co-founder James "Bud" Walton. Bill Laurie is a former owner of the NHL's St. Louis Blues.
Steve Apostolopoulos and Marc Lasry. Apostolopoulos is a Canadian billionaire. ESPN reports he discussed buying the Charlotte Hornets in 2023 before focusing on the NFL's Washington Commanders. Lasry is a former co-owner of the Milwaukee Bucks.

The price tag is huge. ESPN reports the winning bid will be at least $12 billion to $13 billion for the franchise and a new arena together. It is a sign of how much the league believes in the Las Vegas market.

There is also a new detail about where the team would play. ESPN reports that Foley said in June his potential NBA team would play at T-Mobile Arena, where the Golden Knights play. But ESPN's sources now say a new arena will be built if the Colangelo and Foley group wins. Where that arena would go has not been reported.

Las Vegas is not the only city in line. The league plans to add two expansion teams, and Seattle is the other city. ESPN reports the NBA is closing on Las Vegas before Seattle for two main reasons. Las Vegas has a livelier bidding market with higher offers. And Las Vegas needs a new arena built, while Seattle already has Climate Pledge Arena ready to go. ESPN also reports that the Las Vegas runners-up could join the Seattle bidding process.

Why It Matters to Las Vegas Residents

You do not have to be a basketball fan for this to touch your life. A pro team and a brand-new arena are one of the largest building projects a city can land. Big projects like this bring years of construction work, and then steady game-night jobs once the doors open. Think ushers, food and drink workers, security, parking, cleaning crews, and the bars and restaurants nearby.

Where the arena lands matters a lot for the people who live close by. A new arena changes traffic patterns, parking, and noise on game nights. It can also pull new restaurants, apartments, and shops into the blocks around it. Until a site is named, nobody can say which part of the valley will feel that most. That is the detail to watch.

A team also changes how the rest of the country sees Las Vegas. When the Golden Knights arrived, the valley got a local team to rally around, not just a tourist draw. An NBA team would add another home team that locals can call their own. That kind of civic pride tends to show up in how people talk about the city, and in whether they want to plant roots here.

There is also a real estate side to this. People move to places with things to do. Pro sports, concerts, and big events are part of what makes a city feel like home and not just a place to work. Buyers from other states already ask me about the Golden Knights, the Raiders, and the Aces. A Las Vegas NBA team would give them one more reason to look at the valley. That said, one team does not set home prices. Mortgage rates, jobs, and supply still drive the market day to day.

What a New Arena Can Mean for a Neighborhood

We do not know where a Las Vegas NBA arena would go yet. But we do know how big venues tend to change the blocks around them, because the valley has lived through it before. When T-Mobile Arena opened, the space around it filled in with a walkable plaza, restaurants, and bars that stay busy on event nights. When Allegiant Stadium went up west of the Strip, the roads and parking around it had to be planned for huge crowds on game days.

A basketball arena would host a lot of nights. An NBA season has dozens of home games, and arenas also book concerts, fights, and other events on off nights. That means the area around it would be busy much of the year, not just a few Sundays in the fall. For nearby businesses, that is steady foot traffic. For nearby residents, it is more cars and more people on a regular basis.

This is why the site question matters so much. An arena near the Strip would mostly add to an area already built for crowds. An arena farther out would bring bigger changes to the roads, businesses, and homes around it. Until the owner and the league say more, it is too early to guess, and I would be wary of anyone who claims to know.

The Jobs Picture

Jobs are the part of this story that reaches the most households. Building an arena takes years of work for construction crews, electricians, plumbers, and engineers. Southern Nevada has a large building trades workforce, and a project this size would keep many of them busy.

Once a team starts playing, the work shifts to the people who run game nights and the team itself. That includes arena staff, team front office jobs, broadcast crews, and the restaurants and hotels that fill up around games. No one has released job estimates for this project yet, so any specific number you see should come from the team or the county once plans are real.

Background and History

Las Vegas and the NBA have been building toward this for years. The league brings its Summer League to Las Vegas every July, where young players and draft picks play in front of big crowds. Those games happen at UNLV's Thomas and Mack Center and the Cox Pavilion next door. Summer League helped show the league that Las Vegas locals and visitors will show up for basketball.

Pro sports in the valley changed fast over the last decade. The Golden Knights started play in 2017 at T-Mobile Arena and quickly became part of local life. The WNBA's Las Vegas Aces followed, and the NFL's Raiders moved here and play at Allegiant Stadium. Each new team proved the same point: Las Vegas can support major league sports, and locals buy tickets too, not just tourists.

Bill Foley has been open about wanting an NBA team. He brought the Golden Knights to the valley, and ESPN reports he has said he wanted to bring an NBA team here too. Jerry Colangelo, who knows the league well from his years running the Phoenix Suns, joined the bidding this summer. The two now share a finalist spot.

The other two groups bring deep pro sports experience of their own. Bill Laurie owned an NHL team in St. Louis. Marc Lasry was part of the ownership group of the Milwaukee Bucks. That mix shows the Las Vegas team drew serious interest from people who have run teams before.

What Happens Next

The next step is the league's pick. ESPN reports the NBA is expected to select the winning bid for Las Vegas "in the very near future." After that, the league will hold a formal approval process for the two expansion teams by the end of December. That vote is what would make the team official.

The NBA has targeted as soon as the 2028-29 season for the new teams to start playing. That is not far away when you think about how long it takes to design and build a major arena. So the question of where the team plays in its early years, and where a new arena goes, will be one of the biggest local stories to follow once an owner is named.

Here are the key things to watch in the coming weeks:

Which of the three groups the NBA picks as the Las Vegas owner.
Whether the formal approval vote happens by the end of December, as reported.
Where the new arena would be built, and how it would be paid for.
Where the team would play until a new arena opens.
What happens with Seattle, and whether a Las Vegas runner-up joins that race.

Keep in mind that everything so far is based on reporting from league sources. Until the NBA announces a decision, the details could still change.

Quick Answers to Common Questions

Is it official that Las Vegas is getting an NBA team? Not yet. ESPN reports the league is reviewing three finalist bids and expects to pick one soon, with a formal approval process for two expansion teams by the end of December. Until the league announces it, it is still a report.

Is Bill Foley going to own it? He is one of three finalists, partnered with Jerry Colangelo. The other two groups are the Lauries and the Apostolopoulos and Lasry group. No winner has been named.

When would games start? The NBA has targeted as soon as the 2028-29 season for the new teams.

Where would the team play? Foley said in June his team would play at T-Mobile Arena. ESPN's sources now say a new arena will be built if his group wins. No site has been announced.

How much will it cost? At least $12 billion to $13 billion for the franchise and a new arena, according to ESPN.

Ryan's Take

I have watched the Golden Knights turn into part of everyday life in this valley. Kids wear the jerseys to school. Neighbors plan their nights around games. An NBA team could do that all over again, and that matters for how people feel about living here. When I work with buyers moving from other states, "what is there to do?" comes up a lot. A second team in the same winter season gives a real answer.

For homeowners, the arena site is the part I care about most. A big new venue can bring restaurants, housing, and jobs to the area around it, but it can also bring traffic and parking headaches on game nights. If you live near wherever it ends up, that is worth understanding before you decide to buy or sell. I would not change any plans based on a rumor, though. Wait for the league to make it official, and wait for a site to be named. Rates and inventory still matter far more to your home's value this year than basketball does.

What You Can Do

If you are a fan, follow the official NBA announcement and local news outlets like FOX5 Vegas for the pick and the December approval. Once an owner is named, the next news will likely be about the arena and ticket plans. That is when you will learn the most about how this affects your part of town.

If you own a home, pay attention when an arena site is announced. Look at how close it is to your neighborhood and what roads would carry game-night traffic. Public meetings for big projects like this usually give residents a chance to learn more and weigh in, so watch for those notices from Clark County or your city.

If you work in construction, hospitality, or event services, keep an eye on this one. A new arena and a new team would create openings over several years, first on the building side and later on the operations side. Once an owner is named and plans become real, the team and its partners are the best place to watch for hiring news. Be careful with any job post that shows up before the league has even made its pick.

If you rent, the same site question applies to you. Living near a busy arena can mean easy access to games and restaurants, but also more traffic and noise on event nights. If you are signing a lease in the next year or two, it is fair to ask how close you are to any big venue that is planned or already open.

If you are thinking about buying or selling in the next year, focus on the things that move your numbers today: your mortgage rate, your budget, and what is for sale in the areas you like. Big news like an NBA team is exciting, but it is one piece of a much bigger picture. If you want help sorting out what matters for your plans, I am happy to talk it through.

Have questions about how this affects your home or neighborhood? Reach out to Ryan Rose or text/call 702-747-5921 anytime.

Ryan Rose | Real Broker, LLC | 702-747-5921 | ryan@rosehomeslv.com | rosehomeslv.com