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BackThe project to create an NBA club in Las Vegas is estimated at $12–13 billion
The project to create an NBA club in Las Vegas is estimated at $12–13 billion
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РИА Новости55 minutes agoSports1 min readRussiaView original

The project to create an NBA club in Las Vegas is estimated at $12–13 billion

nbalas vegasseattle

Quick Look

  • The project to create an NBA club in Las Vegas, including the construction of a new arena, is estimated at 12–13 billion dollars.
  • The NBA plans to review Las Vegas' bid before Seattle, which already has an existing Climate Pledge Arena.
  • A final decision on expanding the league to two new teams is expected before the end of December.

AI-generated summary

Why It Matters

The NBA is considering expanding the league by adding two new teams. Las Vegas and Seattle are the top contenders. Seattle already has a completed Climate Pledge Arena, while Las Vegas needs to build a new arena from scratch.

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The project to create a National Basketball Association (NBA) club in Las Vegas, including the construction of a new arena, is estimated at no less than $12-13 billion, ESPN reports.

According to the source, the NBA expects to decide on Las Vegas' bid before Seattle's. The Nevada city has more bidders offering higher sums, but the winner will have to decide on the construction of the arena. In Seattle, there is already an existing Climate Pledge Arena for the future team. Groups that don't get a club in Las Vegas can compete for a team in Seattle. The procedure for approving the expansion of the league to include two clubs is planned to be carried out before the end of December. The final decision on the appearance of new NBA teams has not yet been made.

It is emphasized that the first group of potential investors is represented by the daughter of Walmart co-founder Nancy Walton Laurie and her husband Bill Laurie, former owner of the St. Louis Blues hockey club. The second includes Canadian billionaire Steve Apostolopoulos and former Milwaukee Bucks co-owner Marc Lasry. The third brought together Vegas Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo.

What to Watch

AI outlook — possibilities, not facts

  • The NBA will announce the city chosen for the first new team by the end of December 2024.

    Likely · Within months

  • If Las Vegas gets an NBA franchise, investor groups that didn't win in Las Vegas could shift their attention to Seattle's bid.

    Possible · Within months

Open Questions

  • Exactly how much will the winning bidder in Las Vegas be offered?
  • When exactly will the final decision on NBA expansion be announced?
  • What specific conditions must be met to approve the construction of a new arena in Las Vegas?

Related Topics

nba
PeopleNancy Walton LaurieBill LaurieSteve ApostolopoulosMark Lasry
OrganizationsNational Basketball Association (NBA)ESPNWalmartSt. Louis Blues
PlacesLas VegasSeattleNevadaMOSCOW
Topicslas vegasseattleleague expansionnew arenainvestorsespn
This article was originally published by РИА Новости.

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