The NBA’s Board of Governors has officially given the green light to formally “explore” the potential expansion of the league, specifically targeting Las Vegas and Seattle for two new teams. This decision follows a vote held in New York on Thursday.
NBA Commissioner Adam Silver stated, “Today’s vote reflects our board’s interest in exploring potential expansion to Las Vegas and Seattle — two markets that have long supported NBA basketball. We look forward to taking this next step and engaging with interested parties.”
While the official language emphasizes “exploration” rather than an outright commitment, media reports widely anticipate the creation of these two teams. Each new franchise is expected to command an entry fee of approximately $7 to $10 billion. This substantial figure is influenced by recent franchise valuations, such as the Boston Celtics or Los Angeles Lakers, which reportedly sold for over $10 billion last year. The league has now tasked investment banking firm PJT Partners as its strategic advisor to identify and evaluate potential ownership groups for these prospective expansion franchises.