The NBA seems to be moving closer to adding two new expansion teams, and the financial stakes are reportedly quite high.
As shared by ESPN’s Shams Charania, discussions about granting NBA teams to Las Vegas and Seattle are progressing, with projections indicating deals could surpass $7 billion and even reach $10 billion.
Charania pointed out that the NBA’s commissioner, Adam Silver, is deepening the conversation about expansion. Specifically, he mentioned that bids for a Las Vegas team are due soon, with final offers anticipated shortly thereafter. “The proposal for that Vegas team could be hitting and maybe exceeding $10 billion,” he noted.
While the process for Las Vegas appears to be accelerating faster than that for Seattle, Charania still believes Seattle will get a team, likely costing future owners around $7 billion.
“Conversations about Seattle are ongoing too,” he added. “The league has its sights set on starting these expansion teams as early as the 2028-2029 season.”
Interestingly, even before playing a game, the estimated price for the Las Vegas team is only $2.5 billion less than what Josh Kushner and Bob Iger paid for the Los Angeles Lakers.
The last time the NBA expanded was back in 2004, when it introduced the Charlotte Bobcats, which cost the owner at that time a mere $300 million in expansion fees.
With the prospect of adding these two teams, Charania foresees that both Las Vegas and Seattle could rank high in future revenue sharing.
Charania also mentioned that the timing for a final vote on expansion remains uncertain. However, more clarity on the final bids is expected in the coming months, potentially leading to a vote to solidify the total number of teams at 32.
The potential return of an NBA team to Seattle is particularly noteworthy, given the city’s history with the Super Sonics, who played there from 1967 until 2008 and secured one NBA championship in 1979, along with three Western Conference titles before relocating to become the Oklahoma City Thunder.
Las Vegas has been linked to the NBA since 2004 when the league began hosting its annual Summer League there.
