NBA close to choosing winning Las Vegas expansion bid at $12-13 billion: Report

The NBA is set to choose the winning bid group who will be the owner of the league’s Las Vegas expansion team from a list of three finalists for the price of $12-$13 billion, according to ESPN.

The three remaining Las Vegas bid groups include one led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie, a combined bid from NHL Vegas Golden Knights owner Bill Foley and former NBA Phoenix Suns owner Jerry Colangleo, and one that includes former NBA Milwaukee Bucks co-owner Marc Lasry and Canadian billionaire Steve Apostolopoulos, ESPN’s report noted.

ESPN report didn’t give a timeline on when the decision could come down, outside of saying “in the very near future.”

The Las Vegas Jacks group that includes Colangelo, former NBA player and coach Vinny Del Negro, former Turner Sports president David Levy, joined forces with Foley, who was pursuing the expansion team with his own group. The two sides began talking about the potential to partner four months ago, according to ESPN.

If the Foley/Colangelo group wins the bid, plans are for a new arena to be built to house the NBA expansion team, with the Knights still playing at T-Mobile Arena, according to the report.

This is a developing story. Check back for updates.