NBA6d ago
NBA Expansion Decision Nears With Las Vegas Front and Center
As camps open for 30 clubs, the league advances plans for two new franchises, targeting a vote by year-end and prioritizing the stronger Las Vegas market.
By OddsListing wire desk
· 3 min read
On this page3 sections
Las Vegas Ownership Race Tightens
With training camps under way across the NBA’s 30 teams, momentum builds toward adding a 31st and 32nd franchise. Commissioner Adam Silver seeks an expansion vote before the calendar year closes. After locking in an 11-year, $76 billion broadcast agreement, the league shifted focus to expansion and now nears a choice on Las Vegas ownership among three finalist groups: Nancy Walton Laurie and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo. Interest and bidding there have far outpaced Seattle. The Las Vegas club is expected to fetch around $10 billion, with the winners also laying out an extra $2-3 billion for a new arena. Discussions continue on the best arena site.
Seattle Positioned as Next Step
Groups that fall short in Las Vegas could turn to Seattle, where Samantha Holloway’s group sits in pole position at a valuation near $6 billion. Her firm, One Roof Sports & Entertainment, holds a majority stake in Climate Pledge Arena, a 2021 venue already home to the Storm and Kraken that could host NBA games. A 2018 city deal with Oak View Group gives any future NBA owner an option to buy into arena management at fair market value. Holloway’s partners include Melinda French Gates and Andy Jassy. BlackSun Private Equity and the Tulalip Tribes have floated a separate bid with a new arena 35 miles north, and at least one other unidentified group has shown interest. Seattle waits while Las Vegas is resolved, and Holloway’s side has little incentive to bid against itself.
Owner Votes, Fees and Local Ripples
Support is strong yet not unanimous, with some fretting over talent and revenue dilution plus market overlap. A Las Vegas team could touch fans of the Jazz, Nuggets, Suns and Los Angeles clubs; Seattle might pull from Portland, Minnesota or Denver. Combined expansion fees of $15 billion-18 billion would deliver roughly $500-600 million to each current owner before the new sides tip off in 2028-29. Those fees sit outside basketball-related income and are not shared with players. Moving from a 1/30 to 1/32 share costs each club about $9 million yearly in national broadcast money, with further hits to sponsorships, merchandise and other streams. Portland owner Tom Dundon remains locked in a Moda Center renovation dispute and has used the expansion picture for leverage, though any relocation would carry a steep fee estimated at $1.5 billion-2 billion and face long odds given his short tenure. Las Vegas’s draw stems from 38 million yearly visitors despite 2.3 million residents and a top-40 media market, while Seattle offers a top-15 market and 4 million residents anchored by major corporations.
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