NBA Nears Decision on Las Vegas Expansion Team With Three Finalists

The NBA is reportedly close to selecting a winning bid for a new franchise in Las Vegas, with three ownership groups still in contention. The price for the franchise, including the cost of a new arena, is expected to be between $12 billion and $13 billion, according to ESPN's Shams Charania.

The league is anticipated to make its decision on the owners in the near future. Las Vegas currently does not have its own NBA team, but the city is already home to the NFL's Raiders and will soon feature a Major League Baseball team.

As discussions regarding expansion continue, the NBA is also exploring potential teams for Seattle. This expansion initiative highlights the rising valuations of NBA franchises as various ownership groups compete for new opportunities.