SerpApi.Org
Given the success of the NFL, NHL and MLB in Las Vegas, it is hardly surprising that the last of the Big Four leagues, NBA, now wants to plant its flag in the city.
When the NFL voted unanimously to approve the relocation of the Raiders to Vegas in 2020, there were some doubts about how successful a franchise in Sin City might be.
A transient population and navigating the ethical, legal and corporate complexities of navigating the most famous gambling city on the planet were all seen as factors that might limit the Raiders’ growth.
But years later, the Raiders have a franchise valuation of nearly $8bn, operating income of nearly $200m and the second-highest revenue in the league at £832m.
NBA Commissioner Adam Silver and the league’s 30 team owners are, therefore, seeing dollar signs.
Alongside one in Seattle, Vegas will soon get an NBA franchise. Several suitors have emerged publicly, with even more making their calculations for a bid behind the scenes.
And one of the biggest names in American business is now making their own play for the team.
Vegas-based Nancy Walton Laurie and Bill Laurie exploring NBA franchise bid
The NBA is said to be looking at a valuation of $7-10bn for the franchise in Vegas – and it also desperately wants a dedicated arena in the city.
Among the names to have gone public with their interest are Las Vegas Golden Knights owner Bill Foley, a consortium led by former Disney CEO Bob Iger and Joshua Kushner, and a patchwork group of investors known as Las Vegas Jacks.
And now, as reported by industry publication Sportico, Nancy Walton Laurie and Bill Laurie are the latest to consider a bid.
Walton Laurie is worth nearly $18bn and is the heiress to the Walmart empire. She and her husband, Bill, live in the Vegas area.
If she did buy into the NBA’s Vegas outpost, she would become the second member of her family to hold a financial interest in the league.
Stan Kroenke, owner of the Denver Nuggets, is married to Ann Walton, Walton Laurie’s sister.
With more and more contenders emerging, expect to see the price for the Vegas franchise rise and rise. Could a world-record sports business deal be on the cards? It would have to beat the recent Seattle Seahawks and LA Lakers transactions first, both of which valued their businesses at about $10bn.
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