The NBA is moving toward a historic league expansion, with Las Vegas emerging as the front-runner to secure a new franchise.
League officials aim to finalize a decision on expansion by December 2026, targeting the 2028-29 season for the debut of any new teams, as reported by Pianeta Basket.
Competition for the Las Vegas slot has narrowed to three primary ownership groups. Each group has submitted bids valued at a minimum of $10 billion, a figure that analysts suggest could climb as high as $13 billion, according to reports from Inside the NBA.
The three finalists vying for the Nevada franchise include a group led by Nancy Walton Laurie and Bill Laurie, a bid involving Vegas Golden Knights owner Bill Foley, and a group spearheaded by Canadian billionaire Steve Apostolopoulos. The latter group includes former NBA player Kenny Smith and former Milwaukee Bucks co-owner Marc Lasry.
"Part of this process has been a great learning experience," Smith told Pianeta Basket. "I’ve been fortunate to be able to personally put together a group to raise a large amount of capital and contribute to Steve and Mark’s project." Smith added that while the process is in its final stages, the outcome remains highly competitive and uncertain.
The NBA intends to select the preferred ownership group for Las Vegas before shifting focus to a potential expansion in Seattle. Samantha Holloway, owner of the NHL’s Seattle Kraken, is leading a primary bid to return professional basketball to the city, with reports indicating involvement from Melinda Gates.
A secondary group involving BlackSun Private Equity and the Tulalip Tribes has also emerged as a contender. While NBA Commissioner Adam Silver previously said that Seattle’s infrastructure is prepared for a team, the city’s path to a franchise remains less defined than that of Las Vegas. NBA officials are evaluating the Climate Pledge Arena as a viable venue that would not require immediate new construction.
The expansion conversation has expanded to include interest from Mexico City. A group based in the capital has submitted a formal proposal to PJT Partners, the firm assisting the NBA with its expansion evaluations, as reported by ESPN. The proposal reportedly includes plans for an arena and a surrounding development district.
Despite the high level of interest, Commissioner Silver has not guaranteed that both Las Vegas and Seattle will receive franchises. The league’s formal evaluation process, which began in March 2024, continues to weigh economic offers and ownership credentials. The question of whether the NBA will grow from 30 to 32 teams remains officially unresolved as the December 2026 deadline approaches.