NBA Expansion Nears: Las Vegas and Seattle Poised for Record-Setting Deals

The National Basketball Association is progressing toward adding two expansion teams in Las Vegas and Seattle, with potential deals anticipated to set new financial records. NBA insider Shams Charania reported that the league is in advanced stages of these expansion discussions, specifically noting that the next round of bids for a Las Vegas team is due imminently, with final proposals expected shortly thereafter.

Proposals for the Las Vegas franchise are reportedly reaching and potentially exceeding $10 billion. While the expansion process for Seattle is moving at a slightly slower pace, Charania indicated that those discussions are also continuing, with the league targeting the 2028-2029 season as a potential start date for these new teams. The estimated cost for the Seattle expansion team is projected to be around $7 billion.

The potential valuation for a Las Vegas expansion team is notable, falling only $2.5 billion short of the historic $12.5 billion sale price of the Los Angeles Lakers to Josh Kushner and Bob Iger. The last NBA expansion occurred in 2004 when the Charlotte Bobcats were established, with former owner Robert L. Johnson paying $300 million in expansion fees.

Both Las Vegas and Seattle have established connections with the NBA. Seattle was previously home to the SuperSonics from 1967 to 2008, a franchise that achieved significant success, including a championship in 1979, before relocating to Oklahoma City. Las Vegas has hosted the NBA Summer League annually since 2004.

Charania suggested that the NBA anticipates both Las Vegas and Seattle, should they receive expansion teams, will rank among the top 10 in future revenue sharing. The NBA is expected to provide further clarity on final offers and a potential vote to approve the expansion to 32 teams over the next few months.