NBA Commissioner Adam Silver said there’s interest from multiple interested parties regarding owning expansion teams in Las Vegas and Seattle.
Silver, addressing the media Wednesday in San Antonio ahead of Game 1 of the NBA Finals between the New York Knicks and the San Antonio Spurs, said the league has spoken with those groups since announcing in March they would focus on Las Vegas and Seattle for expansion.
“I think everyone knows at this point, we’re focused on Las Vegas and Seattle,” Silver said. “There’s multiple groups interested in both cities. We’re in discussions with them.”
Silver reiterated what he said previously that league expansion is not guaranteed, but the plan is to make that determination by the end of the year, which has been relayed to the interested ownership groups.
“It’s not a foregone conclusion that we will expand either in one city or both cities,” Silver said.
Some of the individuals involved in ownership groups interested in landing an expansion team in Las Vegas include basketball hall of famer Earvin “Magic” Johnson and his group the MAGI and Golden Knights owner Bill Foley.
There are multiple potential arena sites in play where an NBA arena could land in the Las Vegas Valley and T-Mobile Arena could be in play, if hundreds of millions of dollars in renovations are made to the 10-year-old arena.
Silver has spoken with area officials including Las Vegas Mayor Shelley Berkley.
The NBA hired investment bank PJT Partners to serve as a strategic adviser to evaluate Las Vegas and Seattle. The evaluation includes reviewing potential ownership groups, arena infrastructure and the economic implications of expansion on the league.
The expansion fee to be paid by an ownership group is expected to be between $7 billion and $10 billion. Seventy-five percent of the league’s 30 owners would need to vote in favor of expansion for either Las Vegas or Seattle to net a team.
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.
