NBA Owners Poised to Open Bidding for Two Expansion Franchises
nba-owners-poised-to-open-bidding-for-two-expansion-franchises
The National Basketball Association is moving closer to adding two new teams, with club governors expected to take up the topic during next week’s Board of Governors meetings, according to league sources.
Owners are slated to decide whether to solicit formal bids for expansion clubs in Seattle and Las Vegas. Should the process advance, the new teams would aim to begin play in the 2028-29 season.
Staggering entry fees on the table
Industry estimates place the expansion fee between $7 billion and $10 billion per franchise. The proceeds would be distributed among the league’s existing 30 ownership groups and would not be subject to the players’ revenue-sharing agreement.
Approval threshold and timeline
For expansion to proceed, at least 23 of the 30 governors must vote in favor. An expansion draft would likely be held the year before the new teams tip off, giving the incoming clubs time to assemble their initial rosters.
Ready-made markets
Seattle’s Climate Pledge Arena—refurbished on the site of the former KeyArena—meets NBA standards and previously hosted the SuperSonics until their 2008 relocation. Las Vegas, home to the league’s annual Summer League, could utilize T-Mobile Arena as its primary venue.
The NBA last expanded in 2004 when the Charlotte Bobcats (now Hornets) joined the league. If approved, the forthcoming decision would end a nearly quarter-century stretch without new franchises.
Source: Hoops Wire
