By Stefan Acevski / info@eurohoops.net
According to ESPN, the NBA is close to expanding, with Seattle and Las Vegas set to receive new franchises, and we should soon find out who will own the one in Las Vegas.
As mentioned by ESPN, the race for the Las Vegas franchise ownership has narrowed down to three finalist groups – Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo.
NBA is expected to hold a formal approval process for the two new franchises in December, with attention currently more focused on the Las Vegas franchise. The reasons are that demand is higher, and the entire process needs to be completed earlier, as it includes building a new arena. The Climate Pledge Arena in Seattle is already ready to host NBA games.
It is also stated that the entire process of obtaining an NBA franchise, with all accompanying parts, will cost between 12 and 13 billion dollars, and the runner-up in the Vegas bid could join the race to obtain the franchise in Seattle.
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