The NBA is moving closer to expanding its league to 32 teams, with the Board of Governors unanimously approving a vote to explore expansion bids exclusively for Seattle and Las Vegas. While this doesn’t guarantee new teams, it officially launches the process for potential franchises in both cities, with expected bids ranging from $7 billion to $10 billion per team.
According to ESPN’s Shams Charania: “Breaking: The NBA’s Board of Governors has approved a vote for the league to explore bids and applicants for expansion teams exclusively in Las Vegas and Seattle, sources tell ESPN. A bidding process is expected to generate offers in the $7-10 billion range for each team.” Charania reported in mid-March that the league would put the issue up to a vote at its Board of Governors meeting later in the month.
NBA Commissioner Adam Silver said, “Today’s vote reflects our Board’s interest in exploring potential expansion to Las Vegas and Seattle — two markets with a long history of support for NBA basketball,” adding, “We look forward to taking this next step and engaging with interested parties.”
The league is targeting the 2028-29 season for the potential debut of both teams. Investment bank PJT Partners has been enlisted as a strategic adviser to assess ownership groups, arenas, and economic implications. A final vote to confirm the expansion is expected later this year, requiring at least 23 of 30 owners to approve.
Seattle has been without an NBA team since the SuperSonics relocated to Oklahoma City in 2008, leaving behind a passionate fan base. Las Vegas, meanwhile, has never hosted an NBA franchise but has successfully supported professional teams, including the NHL’s Golden Knights, WNBA’s Aces, and NFL’s Raiders, with MLB’s Athletics scheduled to arrive in 2028. Expanding to 32 teams will also prompt conference realignment, likely moving either the Minnesota Timberwolves or Memphis Grizzlies to the Eastern Conference to balance the Western teams with the new franchises.
The NBA’s last expansion occurred in 2004 with the Charlotte Bobcats (now Hornets). Since then, franchise valuations have soared, with recent sales such as the Los Angeles Lakers at $10 billion, the Boston Celtics at $6.1 billion, and the Portland Trail Blazers at $4.25 billion, reflecting the growing financial appeal of NBA ownership.
Interest in ownership is already high, with figures like Magic Johnson expressing enthusiasm for joining a Las Vegas group, and Billy Foley, part-owner of the Golden Knights and T-Mobile Arena, also showing interest. League executives see expansion as inevitable, citing both long-term revenue growth and the popularity of professional sports in these cities.
Editorial credit: Debby Wong / Shutterstock.com