The National Basketball Association took a formal step toward adding two franchises on Tuesday when the Board of Governors voted to begin an in-depth study of expansion possibilities in Las Vegas, Nevada, and Seattle, Washington.
“Today’s vote signals our owners’ interest in evaluating Las Vegas and Seattle—two markets with a lengthy record of supporting NBA basketball,” commissioner Adam Silver said in a written statement. “We look forward to moving into the next phase and working with potential partners.”
Financial and logistical review
To guide the process, the league retained investment bank PJT Partners as a strategic adviser. The firm will analyze prospective ownership groups, arena readiness, local economies and overall financial impact. Industry estimates place the price of an expansion team between $7 billion and $10 billion. The Los Angeles Lakers set the current U.S. professional sports valuation record when a majority stake was sold to Mark Walter for $10 billion.
Even if approved, the new clubs are not expected to start play before the 2028-29 season. The NBA has not added a franchise since 2004, when the Charlotte Bobcats entered the league; that organization rebranded as the Hornets in 2014-15.
Las Vegas profile
Las Vegas has attracted several major leagues in recent years. The NHL’s Golden Knights began play in 2017, the NFL’s Raiders relocated from Oakland in 2020, and MLB’s Athletics plan to arrive in 2028. The city already hosts the semifinals and championship game of the Emirates NBA Cup at T-Mobile Arena. While LeBron James had once expressed interest in owning a Las Vegas franchise, the four-time MVP recently said he is no longer involved; current players are barred from ownership stakes under the collective bargaining agreement.
Seattle profile
Seattle has been without an NBA team since the SuperSonics moved to Oklahoma City following the 2007-08 season. If the league returns, the franchise is widely expected to revive the SuperSonics name. Climate Pledge Arena—formerly KeyArena—has undergone extensive renovations and now hosts the NHL’s Kraken and the WNBA’s Storm. The Kraken, an NHL expansion team, debuted in 2021.
The league will continue gathering data and negotiating with interested parties before deciding whether to grant formal expansion franchises.
Source: LakersNation.com
