NBA Will Hold Vote to Explore Adding Expansion teams in Las Vegas and Seattle
Expansion has been the word whispered throughout the NBA grapevine for over a decade. However, now there is some actual, tangible movement occurring. On Monday it was confirmed that the NBA will hold a vote at the Board of Governors meeting to explore adding expansion teams in Las Vegas as well as Seattle.
Seattle is home to the Mariners (and used to have the SuperSonics); and Vegas boasts the Raiders, Aces, Golden Knights and soon, Athletics baseball team. Therefore, both sports cities are attractive landing destinations for future NBA organizations. The love of sports is already in the fabric of both regions.
Regarding the upcoming vote to be held late March, ESPN’s Shams Charania reports,
“Just in: The NBA will hold a vote at the Board of Governors meetings March 24-25 to explore adding expansion teams exclusively in Las Vegas and Seattle, with the two franchises targeted for the 2028-29 season, sources tell ESPN. There is momentum for stakeholders to approve surveying what industry executives project will be bids in the $7-to-$10 billion range for each team.
This first vote will allow the league to explore purchase processes for Las Vegas and Seattle. There will then be a potential final vote later in the year to finalize transactions to 32 teams — if bids reach necessary threshold. In both voting rounds, 23 of 30 governors must vote in favor.”
If the vote determines that both Seattle and Las Vegas would be great places for new franchises, basketball fans would not have to wait long to see the new teams in the mix. The NBA says the two new franchises would be targeted for the 2028-29 season. Not a far off timeline at all.
NBA Will Hold Vote to Explore Adding Expansion teams in Las Vegas and Seattle
Additionally, industry executives estimate that both markets would be among the NBA’s top-eight revenue generators. Nonetheless, this vote as mentioned will just be the first step to moving forward. It is a key element among multiple critical steps toward NBA expansion. There will most certainly be a potential final vote later in the year to finalize the transactions to 32 teams. In both voting rounds, 23 of 30 governors must vote in favor.
While some owners fully support expansion. Due to the long-term revenue growth for the league from the Las Vegas and Seattle markets. There is some hesitancy. Some owners remain hesitant on selling some of their shares and having their league equity go from 1/30 to 1/32. Therefore, they are wanting to see the final valuations of the bids; plus the individual franchise fees before deciding whether to expand now or in a few more years.
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