When the NBA announced it was exploring expansion in Las Vegas and Seattle, the league's hope was to generate a competitive bidding war that would drive up the franchise fee and maximize the payout to its existing 30 owners. In Las Vegas, that hope has been spectacularly realized.
As of July 2026, at least five high-profile ownership groups have publicly expressed interest in a Las Vegas NBA franchise — a roster of names that reads like a who's who of sports and entertainment.
The Field
Magic Johnson needs no introduction in NBA circles. The five-time champion and Hall of Famer has been a successful part-owner of the Los Angeles Dodgers and the WNBA's Los Angeles Sparks, and Commissioner Silver has spoken warmly of his potential as an NBA owner. "One of our greatest players ever and also has had incredible success off the floor," Silver said. "I have a strong personal relationship with him and he's beloved around the league."
Bob Iger, who recently stepped down as Disney's CEO after a storied tenure that included the acquisition of ESPN, brings a unique relationship with the NBA through Disney's media rights holdings. Iger attended Game 1 of the 2026 NBA Finals in San Antonio and is partnering with venture capitalist Josh Kushner on his bid.
Marc Lasry, the former Milwaukee Bucks co-owner who sold his stake in the franchise, brings direct NBA ownership experience and a deep understanding of the league's financial structures.
Bill Foley, the Vegas Golden Knights owner who built the NHL's most successful expansion franchise from scratch, has a proven track record of building a winning sports culture in Las Vegas.
Jerry Colangelo's Las Vegas Jacks group, announced July 9, adds the most experienced basketball executive in the field — an 86-year-old who has been involved in the NBA since 1968.
What This Means for the Price
The NBA's expansion fee is market-determined, and a five-way bidding war in Las Vegas could push the price well above the $7–$10 billion range that has been publicly discussed. Each of these groups has the financial capacity to bid at the top of the range, and the competition between them will ultimately determine what the league receives.
For Seattle, the Vegas bidding war is a double-edged sword. It validates the NBA's decision to pursue expansion and demonstrates the enormous value of a new franchise. But it also means the NBA may be more focused on resolving the complex Vegas situation than on Seattle's comparatively straightforward process.