The National Basketball Association is currently reviewing the bids submitted by three finalist groups for ownership of a new NBA franchise in Las Vegas, according to a report from ESPN.

The finalists include Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo. All proposals are estimated to be in the $12‑13 billion range, the amount the league has indicated it expects for a new team.

Las Vegas has been a target for expansion for several years, and the arrival of an NBA team would add to the city’s growing sports landscape, which already hosts the NHL’s Golden Knights and the NFL’s Raiders. A new franchise would also create jobs, increase tourism and provide a new venue for local and regional fans.

The NBA will evaluate each group’s financial capacity, ownership structure and business plan before selecting a winner. Once a decision is made, the league will announce the new franchise’s ownership and the date for the inaugural season.

The $12‑13 billion bid range aligns with the league’s recent expansion to Charlotte and Memphis, which were approved at similar valuations. The decision will set a precedent for future expansion bids and signal the NBA’s confidence in the Las Vegas market.