NBA Targets $13B Expansion for Las Vegas Team

The NBA plans to select owners for a new Las Vegas franchise “in the very near future,” attached to a record $12 billion to $13 billion price tag for franchise rights and arena construction, ESPN reported Tuesday.

The prospective team forms half of a planned two-city expansion alongside Seattle that would expand the league to 32 clubs as early as 2028.

Following a March vote by the NBA Board of Governors to explore both markets, the league expects to grant formal approval for the expansion projects by December.

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A shortlist of three bidding groups remains in contention for the Las Vegas franchise, including bids led by Walmart heiress Nancy Walton Laurie, Canadian billionaire Steve Apostolopoulos, and Vegas Golden Knights owner Bill Foley.

While plans strongly favour building a dedicated basketball venue at the southern end of the Las Vegas Strip, Foley has proposed adapting T-Mobile Arena, which already hosts the NBA Cup finals and the Vegas Golden Knights.

NBA targets billion expansion for Las Vegas team (News Central TV)NBA targets billion expansion for Las Vegas team (News Central TV)

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Las Vegas currently hosts the annual NBA Summer League and recently added NFL and MLB franchises, but it has never owned an NBA team. The league will address ownership selection for the Seattle franchise at a later date.

The Seattle team is expected to play at Climate Pledge Arena, the current home of the NHL’s Seattle Kraken and the former home court of the Seattle SuperSonics, before the franchise relocated to Oklahoma City in 2008.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.