The NBA’s plans for expansion received a major update earlier this week when it was reported that team owners will vote on potentially adding teams in Las Vegas and Seattle. The vote is set for March 25, and if it’s approved by 23 of 30 team owners, it would be the first meaningful step toward adding the two teams for the 2028-29 season, the league’s reported target.
If approved by owners, the NBA’s next step is to field offers from prospective ownership groups. There’s been reported interest from Hall of Famer Magic Johnson to be part of an ownership group for the team in Las Vegas. The same goes for the owner of the NHL’s Vegas Golden Knights, Bill Foley. Another name connected to expansion ownership is LeBron James, who has publicly expressed interest in owning an NBA team, specifically one in Las Vegas.
“It’s the best fanbase in the world, and I would love to bring a team here at some point,” James said in 2022 after playing a preseason game in Las Vegas. James addressed NBA commissioner Adam Silver directly with his comments. “He probably sees every single interview and transcript that comes through from NBA players, so I want the team here, Adam. Thank you.”
NBA expansion: What to know about potential new teams in Las Vegas and Seattle
James Herbert
But James’ aspirations of owning the team in Vegas may have hit a snag. While James became the first active NBA player to earn billionaire status a few years ago, he would need additional financial backing to pony up the between the $7 billion and $10 billion that has been reported as the price for an expansion team. That financial backing was expected to come from Fenway Sports Group, per The Athletic, with whom James has had a partnership since 2011 through his ownership stakes in the Boston Red Sox and the English Premier League team, Liverpool.
However, Fenway Sports Group is “not currently interested” in buying an NBA team, per The Athletic, due to the high expansion fee the NBA is expecting from suitors. With Fenway Sports Group reportedly out on the idea of buying an NBA team, it is “less likely” that James would pursue team ownership.
There are certainly other avenues James could explore if he wants to own the Las Vegas franchise, like collaborating with other business partners he no doubt has in his extensive Rolodex. There’s also always the chance that Fenway Sports Group could change its mind.
NBA Expansion Mock Draft: Zion to Seattle, Herro to Vegas in early projection, plus how the process works
Sam Quinn
But before James could even launch a bid to own an NBA team, he would first have to retire — a detail that is still up in the air. James hasn’t announced when he plans on retiring, and he will be an unrestricted free agent this summer.
There’s still plenty of work to be done before the two expansion franchises are officially approved, as the upcoming vote only focuses on moving the process forward of adding two expansion teams. But the timeline is tight, and if James wants to get in on the Vegas team, a decision about his playing career would have to be made quickly.
