The NBA Board of Governors has voted to authorize the league to formally explore potential team expansion to Las Vegas and Seattle.
Seattle used to have the SuperSonics, while Las Vegas has never had an NBA team. Both cities have WNBA franchises.
“Today’s vote reflects our Board’s interest in exploring potential expansion to Las Vegas and Seattle – two markets with a long history of support for NBA basketball,” NBA Commissioner Adam Silver said in a statement. “We look forward to taking this next step and engaging with interested parties.”
The NBA last expanded in 2004 with Charlotte. Executives across the league expect either the Minnesota Timberwolves or Memphis Grizzlies to move to the Eastern Conference to realign conferences with 16 teams each when Seattle and Las Vegas become Western Conference teams.
Los Angeles Lakers superstar LeBron James is no longer interested in being part of an ownership group for a potential NBA expansion franchise in Las Vegas. The future Hall of Famer previously said he wanted to be part of the Las Vegas NBA team. Industry executives expect proposals in the $7 billion to $10 billion range for each expansion NBA franchise.
Fenway Sports Group, James’ business partner since 2011 and owner of both the Boston Red Sox and the English Premier League soccer giant Liverpool, is not interested in pursuing the likely expansion opportunity in Las Vegas, per The Athletic.
James, 41, is worth $1.4 billion, according to Forbes. However, his personal worth is not nearly high enough to cover the expansion fee. He was always going to need to join a team of investors to make his bid a reality.
Latest NBA News & Rumors
- Report: Golden State Warriors’ Moses Moody Suffers Torn Patellar Tendon
- Philadelphia 76ers’ Paul George Says Mental Health Struggles Led To Banned Substance Mistake
- Blockbuster Trade Proposal Sends Kawhi Leonard Back To Toronto Raptors In Stunning Offseason Twist
- Houston Rockets Linked To Aggressive Giannis Antetokounmpo Trade Pursuit This Offseason
- Report: Billy Donovan Could Step Away From Chicago Bulls After Emotional, Turbulent Year
