Owners of NBA team support move to explore expansion to Seattle and Las Vegas

[p]The move is the first step in a lengthy process that could see new teams in Seattle, where the SuperSonics once played, and Las Vegas, which each year hosts NBA Summer League games involving young players.[/p][p]"[b]Our goal was in 2026 to resolve this issue one way or another,[/b]" NBA commissioner Adam Silver said. "[b]We need to know by the end of this calendar year what it is that we're doing[/b]."[/p][p]It's a multi-year process, Silver stressed, that could result in one or two new NBA clubs or none at all.[/p][p]"[b]At the earliest we would have new teams coming into the league in the 2028-29 season,[/b]" Silver said.[/p][p]"[b]If we do move forward, I don't think there's going to be any concern about the quality of the competition.[/b]"[/p][p]The NBA engaged investment bank PJT Partners as a strategic adviser to evaluate markets, ownership groups, arena infrastructure and economic implications of two new teams.[/p][p]"[b]We look forward to taking this next step and engaging with interested parties[/b]," Silver said.[/p][p]It would take approval by 23 of the NBA's 30 governors to pass any motion on adding new teams.[/p][p]"[b]There was a discussion about dilution economically and dilution talent-wise,[/b]" Silver said. "[b]It's my view we have ample talent to fill 32 competitive teams.[/b]"[/p][embed guid="6be3ad22-4425-4f34-a4f1-5fc74187ed27" url="https://x.com/NBAPR/status/2036821824747511993?s=20" social-type="twitter" /][p]Team values have skyrocketed in recent years with the price tag for a new club expected to be around $7 billion to $10 billion.[/p][p]"[b]I'm not going to speculate on prices[/b]," Silver said. "[b]The market will determine the value of these teams and we'll decide whether or not to move forward. I expect there will be robust interest in these teams.[/b][/p][p]"[b]We did not discuss franchise value per se in these meetings. We have a sense of where we think that value exists[/b]."[/p][p]The [a href="https://www.flashscore.ca/team/phoenix-suns/M1Gy2pra/"]Phoenix Suns[/a] were sold in 2022 for $4 billion. The [a href="https://www.flashscore.ca/team/boston-celtics/KYD9hVEm/"]Boston Celtics[/a] were sold last year for $6.1 billion and the [a href="https://www.flashscore.ca/team/los-angeles-lakers/ngegZ8bg/"]Los Angeles Lakers[/a] were sold last year for $10 billion - the highest-ever price paid for a US sports team.[/p][p]Silver said there were no "concerns" by team owners about selling league equity.[/p][p]"[b]There weren't concerns,[/b]" Silver said. "[b]There are some owners who felt we just frankly don't need to expand. They felt we're in a very solid place with the 30-team league we have now.[/b][/p][p]"[b]I wouldn't put that in the category of concern. It more went in the category of considerations[/b]."[/p][p]The NBA last expanded to Charlotte in 2004.[/p][p]"[b]There's absolutely a chance that expansion will not happen. That's why we said we're exploring markets[/b]," Silver said. "[b]Where the uncertainly lies is in instability outside the league.[/b]"[/p][p]Silver said that unlike past expansions open to many markets, the league was focused on Seattle and Las Vegas.[/p][p]"[b]There are some other great markets that could host NBA franchises. This time around, the focus was on these two markets,[/b]" Silver said, calling them "unique" in supporting the league.[/p][h2]Sporting hotbeds[/h2][p]Should Seattle and Las Vegas land expansion teams, either [a href="https://www.flashscore.ca/team/memphis-grizzlies/U1I5YSDa/"]Memphis[/a] or [a href="https://www.flashscore.ca/team/minnesota-timberwolves/KjBIVQcI/"]Minnesota[/a] would likely shift from the Western Conference to the Eastern Conference to give each 16 clubs.[/p][p]The Seattle SuperSonics joined the NBA in 1967 and won the city's only NBA title in 1979 before moving to [a href="https://www.flashscore.ca/team/oklahoma-city-thunder/0fHFHEWD/"]Oklahoma City[/a] in 2008 and winning last year's NBA crown.[/p][p]Las Vegas hosts many sporting events, including a Formula One race and USA Basketball training camps.[/p][p]Both cities landed successful NHL expansion teams in the past decade. Each has an NFL team and both will have MLB clubs when a new Vegas stadium opens for the former Oakland Athletics in 2028.[/p]