Egon Durban, co-CEO of Silver Lake and the largest minority owner of the Las Vegas Raiders, has joined the ownership group led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie in their effort to bring an NBA expansion team to Las Vegas. The group is one of three competing ownership partnerships vying for the franchise, according to Sports Business Journal.
The proposed investment for the Las Vegas NBA bid includes approximately $9 billion for the franchise and another $3 billion for a new arena, bringing the total potential investment to $12 billion. The NBA is reportedly expecting ownership groups to increase their offers as the selection process continues.
Durban already holds a 22% stake in the Raiders and has a right of first refusal on a controlling interest in the NFL franchise. His involvement could influence where a future NBA team calls home, as the Walton-Laurie group is exploring the possibility of constructing a new basketball arena near Allegiant Stadium, potentially accompanied by a mixed-use entertainment district.
The other two competing groups include one led by Vegas Golden Knights owner Bill Foley and former Phoenix Suns owner Jerry Colangelo, which may involve renovating T-Mobile Arena or building a new facility, and another led by former Milwaukee Bucks co-owner Marc Lasry and Canadian businessman Steve Apostolopoulos, which could include building a new arena near or along the Las Vegas Strip. Investment bank PJT Partners is reviewing the bids, with a decision on the preferred ownership group possible as early as this month.
If approved, Las Vegas could welcome an NBA franchise as early as the 2028-29 season, though that timeline depends on league approval and the development of a suitable arena. The city already hosts the NBA Summer League, which has become an annual showcase for players and fans.
Sources: 8 News Now
Original reporting: 8 News Now →
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