Former Milwaukee Bucks co-owner Marc Lasry said Wednesday his Las Vegas NBA expansion bid group is still in contention, refuting a Sports Business Journal report that it had dropped out. Lasry told CNBC that he and his partner, Canadian billionaire Steve Apostolopoulos, remain one of two or three finalist groups vying for the franchise.
"We've always been in, the question is what's the price," Lasry said. He said the group bid between $9 billion and $10 billion but believes another group submitted a higher offer. Lasry sold his 25 percent stake in the Bucks and left the NBA in 2023 but said Las Vegas' potential profitability drew him back.
Lasry cited the recent $12.5 billion sale of the Los Angeles Lakers to former Disney CEO Bob Iger and venture capitalist Josh Kushner as a market reset that pushed the Las Vegas expansion fee upward. He called the Lakers purchase a "brilliant move" by Iger and Kushner, who had also pursued the Las Vegas franchise.
Lasry said he believes the winning bid will be chosen within the next two to four weeks. He pointed to the NBA's growing international appeal in Europe, Africa and Asia as a key driver of rising team valuations, contrasting it with the NFL's more limited global reach.
The other remaining groups include one led by Walmart heiress Nancy Walton Laurie, her husband Bill Laurie and Silver Lake co-CEO and Raiders minority owner Egon Durban, and another that includes Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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