The NBA is moving closer to making a decision on expansion, with one important deadline passing recently and another arriving next month, writes Mike Vorkunov of The Athletic.

Industry sources tell Vorkunov that the league and PJT Partners, the financial firm hired to advise on expansion exploration, asked bidders who have expressed interest in bringing a team to Las Vegas or Seattle to provide information earlier this month. That data included cap-table sketches, names of potential investors and how much they would be willing to pay for the new teams.

Separate deadlines were set for each city, Vorkunov adds, and a second bidding deadline for Las Vegas will take place sometime in September with investors being asked to submit more detailed portfolios. Vorkunov notes that a second deadline hasn’t been set for Seattle yet, and his sources believe the league will select an owner in Las Vegas first.

Expansion fees haven’t been established, but Vorkunov notes that the league has indicated it will be seeking $7 billion to $10 billion for each franchise. Las Vegas is believed to be near the top of that range, with some industry sources floating $9 billion as a realistic number. Seattle’s figure is likely to be “far less,” according to Vorkunov.

He cites Bill Foley, owner of the NHL’s Golden Knights, and Walmart’s Nancy Walton Laurie and her husband, Bill Laurie, as among the leading contenders for the Las Vegas franchise.

Vorkunov’s sources say another still unidentified bidding group is already involved and more could join the process before the September deadline. He hears that a group that includes former NBA executive Jerry Colangelo, former Clippers head coach and player Vinny Del Negro, ex-Turner Broadcasting president David Levy and a collection of finance executives have indicated that they would be able to raise up to $13 billion for the team and a new arena.

Several sources tell Vorkunov that the Laurie group is seen as the current front-runner, but he cautions that’s “not a consensus view.”

Samantha Holloway, owner of the NHL’s Kraken, is the only known bidder to emerge for the Seattle franchise, Vorkunov adds, although commissioner Adam Silver has stated that there are “other public groups” with interest in competing for the team.

The NBA has a Board of Governors meeting scheduled for next month, and Silver is hoping for a final decision on whether to proceed with expansion by the end of the year.