NBA Sets December Deadline for Expansion Vote as Las Vegas Bids Narrow to Three

Key points

• ESPN insider Shams Charania reports the NBA will finalize Las Vegas ownership 'in the very near future' and hold a formal approval process for two expansion teams by the end of December 2026.
• The combined cost for the Las Vegas franchise and a new arena is estimated at $12-13 billion, significantly higher than earlier estimates.
• Three groups are final bidders for Las Vegas: Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo.
• Seattle’s expansion prospects improve as Las Vegas resolves, since unsuccessful Vegas bidders may join the Seattle process, and Seattle’s Climate Pledge Arena is already operational.
• The league targets the 2028-29 season for the debut of the new teams, with Seattle’s One Roof Sports and Entertainment group positioned as the clear frontrunner for the Seattle bid.

Background

In mid-September 2026, the NBA Board of Governors approved exploring expansion in Seattle and Las Vegas. Earlier reports suggested Seattle bids were around $7 billion, while Las Vegas bids were estimated at over $10 billion. Seattle had two primary bidders: One Roof Sports and Entertainment, led by Seattle Kraken chair Samantha Holloway, and a group involving BlackSun Private Equity and the Tulalip Tribes, which proposed an arena in Marysville. Commissioner Adam Silver noted that Seattle’s Climate Pledge Arena was ready for use with minor modifications, whereas Las Vegas faced uncertainties regarding arena construction or renovation.

How outlets are covering it

Seattle Sports emphasizes that the concrete December timeline and the resolution of Las Vegas ownership are positive signs for Seattle, as it allows the league to focus on the simpler Seattle logistics. CBS Sports highlights the specific identities of the three Las Vegas bidding groups, noting the involvement of former NBA governors Marc Lasry and Jerry Colangelo, and details the potential for losing Vegas bidders to pivot to Seattle. Sportsnet.ca focuses on the Canadian connection, highlighting Toronto-born billionaire Steve Apostolopoulos as a key finalist in the Las Vegas bid. All sources agree on the $12-13 billion price tag for Las Vegas and the 2028-29 target start date, but differ in emphasis: Seattle Sports views the Vegas progress as a catalyst for Seattle, while CBS Sports and Sportsnet.ca provide a more detailed breakdown of the Las Vegas competitive landscape.

Why it matters

The resolution of the Las Vegas bid is a critical step in the NBA’s expansion to 32 teams. A successful Las Vegas approval by December 2026 could clear the path for Seattle to receive its franchise, potentially bringing the Sonics back to the city. The high price tag for Las Vegas indicates the league’s confidence in the market’s value, while the readiness of Seattle’s arena positions it as a lower-risk, faster-to-launch option compared to Las Vegas’s ongoing arena uncertainties.

What to watch

The NBA is expected to announce the winning Las Vegas bid in the coming weeks. Following this, the league will likely turn its attention to finalizing the Seattle bid, potentially involving groups that lost in Las Vegas. A formal approval vote for both teams is scheduled by the end of December 2026, with the new teams aiming to begin play in the 2028-29 season.