NBA OKs Expansion Talks
The NBA Board of Governors has approved moving forward to explore expansion bids for Seattle and Las Vegas — reigniting talk of the SuperSonics’ return. Local leaders and Seattle legends are already mobilizing as the league opens the formal bid process to potential ownership groups and venues. (cp24.com)
Owners voted unanimously, 30–0, and league sources say bidding for each new franchise is expected in the $7–10 billion range with the NBA targeting the 2028–29 season for any expansion teams to begin play. (espn.com) The NBA has hired investment bank PJT Partners as a strategic adviser to evaluate ownership groups, venues and economic implications while the league examines bids over the next several months and prepares for a potential final vote later this year; any franchise addition would require 23 of 30 governors’ votes in the final rounds. (espn.com) Seattle officials moved quickly: Mayor Katie B. Wilson and the City Council passed a joint resolution declaring the city “ready” and stating Climate Pledge Arena is prepared to host an NBA team, and Gov. Bob Ferguson held high-level discussions with Commissioner Adam Silver in the run-up to the owners’ meetings. (seattlesports.org) (kiro7.com 1) (kiro7.com 2) (komonews.com) In Las Vegas, developers have proposed multiple NBA-ready arena projects — including two separate 20,000-seat plans on or near the Strip — and Oak View Group and other operators have been actively scouting alternative sites as the market readies bids. (thenevadaindependent.com) (reviewjournal.com) The league pointed to recent franchise valuation jumps as context for owners’ interest — citing multi-billion-dollar sales in recent years — and observers say those rising valuations help explain the $7–10 billion bidding projections for new teams. (espn.com) Commissioner Adam Silver is scheduled to speak publicly about next steps, and the NBA has opened a formal process to solicit ownership applications and venue proposals that will be vetted before any final expansion approvals. (nba.com)
