NBA explores expansion into Las Vegas and Seattle

The NBA is advancing its potential expansion plans, with Las Vegas and Seattle emerging as primary candidates for new franchises. According to reports, the league and investment bank PJT Partners have requested initial information from interested groups, including capital structures, investor identities, and estimated bid amounts. Expansion fees are expected to range between $8 billion and $10 billion per team.

Sources indicate the league may prioritize Las Vegas, with a second deadline for detailed financial dossiers set for September. Seattle's process appears to be moving at a different pace. While Commissioner Adam Silver has noted that no final decisions have been made and the study could conclude without new teams, the league hopes to reach a decision on the principle of expansion by the end of 2026.

This movement comes amid a period of significant financial growth for the NBA, bolstered by a massive $77 billion media rights deal. The league has also implemented new collective bargaining agreement rules to curb excessive spending and is overhauling the draft lottery format starting in 2027 to discourage strategic losing.