NBA reportedly close to selecting winning bid for Las Vegas expansion team, has 3 finalist groups

The NBA is expected to select the winning bid "in the very near future," according to ESPN's Shams Charania . The deal, which will include a new arena in the city, is expected to be worth at least $12 billion. A specific timeline is not yet known.

There are reportedly three finalist groups in place: The first is led by Nancy Walton Laurie and Bill Laurie; the second by Steve Apostolopoulos and Marc Lasry; and the third is a group led by Bill Foley and Jerry Colangelo.

Nancy Walton Laurie is the daughter of Walmart co-founder James Walton. Her husband, Bill, used to own the NHL's St.Louis Blues. The couple already has a home in the Las Vegas area and an estimated net worth of more than $17 billion, according to Forbes . The Walton family is part of the ownership group of the NFL's Denver Broncos, too.