LeBron James Rules Out NBA Team Ownership Bid
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Los Angeles Lakers forward LeBron James said Wednesday that he is no longer pursuing a stake in an NBA franchise, reversing remarks he had made in recent years about joining an ownership group once his playing career ends.
James was asked by Dan Woike of The Athletic following the Lakers’ win over the Houston Rockets whether buying into a team still interested him. “No, I’m not. Not at all,” he answered in a brief post-game exchange captured on video by Khobi Price of the California Post.
The four-time MVP’s change of heart comes amid reports that Fenway Sports Group—in which James is a partner—will not bid for a potential expansion club in Las Vegas because of the projected cost. Industry estimates suggest the NBA will charge between $7 billion and $10 billion in expansion fees; The Athletic has placed the figure at roughly $8 billion.
James, 41, remains an active player and therefore cannot hold equity in an NBA team under league rules. He continues to perform at a high level, scoring 30 points on 13-of-14 shooting in Wednesday’s victory, the Lakers’ seventh straight. After the game, Rockets star Kevin Durant told reporters he believes James could continue playing for another four to five seasons, possibly until age 45.
While James’ comments leave the door open for a future change of mind, he indicated that team ownership is not part of his current plans.
Source: Hoops Rumors
