The possibility of the NBA adding two more expansion teams continues to gain steam, and it’s expected to happen at record numbers.
According to ESPN NBA insider Shams Charania, the league is advancing into further stages that would grant Las Vegas and Seattle two expansion teams, at deals over $7 billion and $10 billion.
“The NBA and Adam Silver are in deeper and deeper stages of the expansion conversation, and I’m told specifically for Las Vegas, the next round of bids for an expansion team in Las Vegas are due on Thursday, and final bids expected to be some point shortly thereafter,” Charania said. “My understanding is proposals for that Vegas team is reaching and potentially exceeding $10 billion.”
NBA Commissioner Adam Silver speaks about the league potentially expanding to Las Vegas and Seattle Markets. NBAE via Getty Images
City of Seattle could be awarde with NBA expansion franchise. Tommy – stock.adobe.com
Charania went on to say that the Vegas process has moved on with more pace than the Seattle, but still believes they will land the other team, that will cost future owners around $7 billion.
“Those Seattle conversations are continuing as well,” Charania said. “Remember, the league has been targeting as soon as the 2028-2029 season for the start of these expansion teams.”
Las Vegas could be rewarded with an NBA expansion franchise. Getty Images
Despite the potential Las Vegas expansion team having yet to play in an NBA game, the estimated cost to purchase it falls just $2.5 billion shy of what it cost Josh Kushner and Bob Iger to purchase the Los Angeles Lakers from Mark Walter.
The last time the NBA expanded happened in 2004, when the league introduced the Charlotte Bobcats, which costed previous owner Robert L. Johnson $300 million in expansion fees to create.
With the NBA potentially adding two more teams, Charania said the NBA expects Las Vegas and Seattle to be in the top-10 in future revenue share.
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“Now Adam Silver is going to continue the bids process, and it’s unclear when a final vote will be,” Charania said. “I think over the next couple of months we’re going to get clarity on the final offers. …A potential vote to finalize the expansion to 32 teams.”
The possibility of Las Vegas and Seattle being awarded an NBA team should come as no surprise, as the league already has ties to both cities.
Seattle Sonics fans could potentially have their home team back as an NBA expansion franchise. REUTERS
From 1967-2008, Seattle was home to the Super Sonics, who won three Western Conference Titles and one NBA championship in 1979.
The team went on and relocated to Oklahoma City and became the Oklahoma City Thunder after the team was bought by its current owner, Clay Bennett, for $350 million.
Las Vegas’ ties to the NBA date back to 2004, when the league started hosting its annual Summer League there.
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