Professional sports ignored Las Vegas for decades. However, when the NHL expanded to Vegas with the Golden Knights and the NFL Raiders moved to the city, that point of view changed dramatically. Both teams have been successful in their new environment, and now the NBA appears poised to hit the Las Vegas market. Lakers superstar LeBron James could become one of the key players when it comes to owning a franchise in the desert.
The NBA is on track to add a couple of expansion teams to Las Vegas and Seattle. The NBA has not added an expansion team since Charlotte was brought into the fold in 2004. The league has been waiting to broach the subject of expansion until it completes the league's new media deal. That is expected to happen shortly, and the deal is expected to reach $75 billion.
Once that happens, expansion will be the league's next serious topic. The league will set the expansion fees for the two likely cities, and the amount for the Las Vegas expansion franchise could reach as high as $7 billion, according to Bloomberg.com.
James and others would have to pay a record amount for a Vegas expansion franchise
If the $7 billion figure is accurate and an ownership group is prepared to pay that for the expansion team, it could set the sports world into a frenzy. The Washington Commanders of the NFL were sold for $6.05 billion, and that is an established franchise in the most successful North American professional sports league.
If the Vegas expansion price is more than an established NFL franchise, what would that mean for the Los Angeles Lakers, New York Knicks or Boston Celtics in the NBA, as well as the Dallas Cowboys or New England Patriots in the NFL?
There are likely to be a number of suitors for the Vegas NBA expansion franchise, and Lakers superstar LeBron James has indicated that he would like to be involved.
James is backed by RedBird Capital Partners and Fenway Sports Group, with both parties investing in James’ The SpringHill Company in 2021. James pointed out that Vegas had everything an NBA team needs to be successful when he competed in the city during the league's in-season tournament last year.
However, it's no sure thing that James would get the expansion franchise since there are so many other parties that are interested in owning a team in that city. Hall of Famer Shaquille O'Neal has said that he wants some involvement in the ownership of a Vegas franchise, and at least two other business leaders are interested in owning a Vegas NBA franchise.
One of the companies that is interested in that possibility includes the company that owns the Red Bull brand, per Fortune Magazine.
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