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It’s been nearly 22 years since the Charlotte Bobcats (modern-day Hornets) were added as the last NBA expansion team. The league has changed a lot since then, including several franchise rebrands, but the total number of teams has yet to pass 30, despite multiple efforts to add to the list.
Recently, the NBA has finally been moving on its expansion plans, generating a lot of buzz in the process. While progress has been slow, all signs are pointing toward a smooth and natural conclusion to this saga. In the latest update, it was confirmed that bidding deadlines have been set for both Las Vegas and Seattle, with the price range estimated at between $7 and $10 billion.
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“While the NBA has identified a second deadline for bidders in Las Vegas, the sources said there is only one for Seattle at the moment,” reported The Athletic’s Mike Vorkunov. “Those sources also believe the NBA will select an owner in Las Vegas before the league moves on to a decision in Seattle. The expansion fee for franchises in each city is unknown. The NBA has made it known that it is seeking $7 billion-$10 billion for each new team. A Las Vegas franchise is expected to be on the high end of that range, with some industry sources floating $9 billion as a price point. Seattle is expected to draw less for its expansion fee.”
While other cities have been mentioned for expansion (such as Mexico City, Vancouver, and Louisville), the NBA has seemingly already settled on its most requested cities (Las Vegas and Seattle). With the preliminary process already approved by the Board of Governors, we are now at the stage where prospective owners start making their initial bids, with further meetings scheduled next month. If it goes at this rate, we may see two new teams within a few seasons.
As for which groups have emerged in the process, Las Vegas is clearly the most coveted franchise, and the level of interest requires not one but two separate bidding deadlines. Among the candidates, Golden Knights owner…
Source link : https://sports.yahoo.com/articles/nba-makes-progress-expansion-latest-231317355.html
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Publish date : 2026-08-28 23:13:00
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