When the NBA expands to Las Vegas, a Canadian could be at the helm.
Toronto-born billionaire Steve Apostolopoulos is among the finalists whose ownership bids for the Las Vegas expansion team are being reviewed by the NBA, ESPN’s Shams Charania reported Tuesday.
A decision on the winning bid is expected in the ‘near future,’ Charania added.
Apostolopoulos is partnering with Marc Lasry, former owner of the Milwaukee Bucks and Cleveland Browns, on the bid.
Charania also reported that the winning bid is expected to hit between $12 billion and $13 billion and includes a new arena. The other finalists are Walmart heiress Nancy Walton Laurie and her husband Bill Laurie, and Vegas Golden Knights owner Bill Foley, who has partnered with former Phoenix Suns owner Jerry Colangelo.
The NBA is expected to complete the formal ownership process by the end of December.
The league, which currently has 30 teams, has plans to expand to 32 within the next few years, with Las Vegas and Seattle as front-runners.