The NBA is reportedly ready to pick an owner for a Las Vegas expansion franchise in the “very near future,” with the combined cost of the team and a new arena expected to hit an astounding $12-13 billion. This is huge news, even if it feels a little bittersweet for us here in Seattle. Commissioner Adam Silver has been aiming to settle the expansion question by the end of the year, and it looks like Vegas is getting the nod first, ahead of the Emerald City.
Vegas Bidders Are Throwing Around Serious Cash
Three serious groups are in the running to snag this Vegas team, and the names involved are pretty heavy hitters. First up, we’ve got Nancy Walton Laurie and Bill Laurie. Nancy is a Walmart heiress and cousin to Rob Walton, who owns the Broncos. Bill is no stranger to sports ownership, having previously owned the NHL’s St. Louis Blues. Then there’s Steve Apostolopoulos and Marc Lasry. Lasry is a former Milwaukee Bucks owner who sold his share for a cool $3.5 billion to Jimmy Haslam, the owner of the Cleveland Browns. His history as an NBA governor for the Bucks, where ownership rotates, makes his involvement super interesting. Finally, Bill Foley and Jerry Colangelo are in the mix. Foley is the majority owner of the Vegas Golden Knights, so he knows the Vegas sports scene. Colangelo is a legend for NBA fans, a former governor, a four-time NBA Executive of the Year with the Phoenix Suns, and the chairman of the Naismith Memorial Basketball Hall of Fame. Sure, there was that whole thing where he and his son Bryan left the Philadelphia 76ers after Bryan’s wife reportedly leaked sensitive info on Twitter, but his resume is still stacked.
Seattle Has the Arena Ready, So What’s the Hold Up?
Here’s the kicker, and honestly, it’s a bit frustrating for us 12s. While Las Vegas is still figuring out where its arena will even be, let alone getting it built, Seattle already has Climate Pledge Arena just sitting there, ready to go for an NBA team. Silver himself said earlier this month that there wasn’t “as much discussion around Seattle as there was around Las Vegas because with Las Vegas, it’s not even clear what the site will be, let alone the arena yet. Therefore, it’s a much longer timeline before we can throw the ball up for NBA basketball.” So, the league approved both cities back in March, but Vegas is moving ahead with its ownership decision even though they have a longer road to actually playing ball. It feels like the NBA is adding its first new franchise since the Charlotte Bobcats in 2004, and the approval process for Vegas is getting VIP treatment before ours.
It’s tough to see Vegas get this close when we’ve been clamoring for our Sonics back for so long and have a state-of-the-art arena ready right now. Commissioner Silver still wants the expansion matter settled by the end of the year. Let’s hope that means a decision on Seattle isn’t far behind. We’re ready to show the league how passionate the Emerald City is about basketball.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by CBS Sports.
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