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HomeNBALeBron James Eyes $7 Billion NBA Expansion Team in Las Vegas

LeBron James Eyes $7 Billion NBA Expansion Team in Las Vegas

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Las Vegas, once considered an unlikely destination for professional sports, has become a hotbed for major leagues. Lakers superstar LeBron James is at the forefront of this potential venture, aiming to secure ownership of a franchise in Las Vegas. Following the success of the NHL’s Golden Knights and the NFL’s Raiders, the NBA is now eyeing the desert city for expansion.

LeBron James

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According to a recent tweet by Legion Hoops, citing Fortune Magazine, LeBron James himself is expected to throw his hat in the ring for a chance to own this historic team

LeBron James Eyes $7 Billion NBA Expansion Team in Las Vegas - THE SPORTS ROOM

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The Tweet Reads,

LeBron James is expected to make a bid for projected $7B expansion team in Las Vegas, per

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@FortuneMagazine

. “The looming bidding war for the NBA expansion team expected to be granted to Las Vegas is shaping up to be the most competitive and expensive sports deal in US history. The list of potential suitors spans LeBron James and his backers to the company that owns the Red Bull brand, according to people familiar with the situation.””

The tweet hints at a potential bidding war of epic proportions, with James and his backers facing off against heavyweight contenders like the company behind the Red Bull brand. This development has NBA fans buzzing, not just for the prospect of a new team, but for the sheer magnitude of the financial stakes involved.

The NBA Expansion Landscape

The NBA hasn’t added an expansion team since Charlotte joined the league in 2004. However, with a new media deal on the horizon (expected to reach a staggering $75 billion), the league is poised to expand. Las Vegas and Seattle are the likely destinations for these new teams. The expansion fees for the Las Vegas franchise could soar to an unprecedented $7 billion, according to Bloomberg.com.

The Record-Breaking Bid

LeBron James

  1. $7 Billion Price Tag: If the reports hold true, the Las Vegas expansion team’s price tag would surpass any previous sports deal. For context, the Washington Commanders of the NFL were sold for $6.05 billion, and they are an established franchise in the most successful North American professional sports league.
  2. LeBron’s Interest: LeBron James, backed by RedBird Capital Partners and Fenway Sports Group, has expressed interest in owning an NBA team in Vegas. His investment in The SpringHill Company in 2021 further solidifies his commitment. During the league’s in-season tournament last year, James praised Vegas, emphasizing that it has everything necessary for a successful NBA team.

 

ALSO READ: Steve Kerr opens up on the consistency of having LeBron James, Steph Curry, & Joel Embiid in the starting lineup

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