LeBron James said nearly four years ago on his show “The Shop” that he wanted to own an NBA team in Las Vegas.
With team governors reportedly set to vote next week on whether the NBA can move forward with the bidding process for new franchises in Las Vegas and Seattle, James was asked if he’s still interested in NBA expansion team ownership.
“No, I’m not,” James told reporters Wednesday night after scoring 30 points on 13-of-14 shooting in a 124-116 victory over the Houston Rockets, his Los Angeles Lakers’ seventh straight win.
James, 41, added: “Not at all.”
Industry executives expect expansion franchise proposals to range from $7-10 billion per team, according to ESPN’s Shams Charania.
James has been partnered with global sports investment firm Fenway Sports Group (FSG) since 2011. FSG owns both the Boston Red Sox and English Premier League soccer club Liverpool but, per a report from The Athletic, isn’t currently planning on placing a bid for the likely NBA expansion team in Vegas. The expected cost is reportedly a deterrent for FSG.
Without FSG’s financial support in pursuing in that kind of NBA ownership opportunity, James is less likely to make a push in that realm, a source told The Athletic. As of Thursday, James’ net worth is $1.4 billion, according to Forbes. So he alone can’t cover the cost of the expansion fee.
He’d also need to retire from playing in the league first before he could place a bid for NBA team ownership, and it’s reportedly possible these new franchises debut in the fall of 2028.
The NBA hasn’t expanded since 2004. That’s when the league added the Charlotte Bobcats.
NBA executives expect either the Minnesota Timberwolves or the Memphis Grizzlies to move to the Eastern Conference, with the Seattle and Vegas franchises penciled in the for the West, pending expansion approval, per ESPN.
That way, both conferences would have 16 teams.
Expansion approval must come from league owners, 23 of whom must green light the final proposals, according to The Athletic.
James has discussed the possibility of someday owning an NBA team on various occasions over the past decade. At the moment, though, he says he’s not interested in NBA expansion team ownership.
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