NBA expansion teams heading to Las Vegas and Seattle likely to happen at record setting numbers
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.”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.” The biggest news, opinion and culture shaping California right now.Please provide a valid email.
By clicking above you agree to the Terms of Use and Privacy Policy.Never miss a story 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.California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCaliforni...