On the way to history: a new NBA team could cost 9 billion dollars

The NBA expansion process is gaining momentum, and Las Vegas is emerging as the city that may receive a team before Seattle. According to The Athletic, the league and the financial firm PJT Partners, which was hired to advise it on the matter, have already asked groups interested in establishing a club in one of the two cities to provide details on the ownership structure, investors, and the price they would be willing to pay.

Candidates in Las Vegas are required to submit an additional detailed proposal in September, while for Seattle, only one deadline has been set at this stage. Sources familiar with the process estimate that the NBA will first choose the owner of the team in Las Vegas and only then make a decision regarding Seattle. Commissioner Adam Silver hopes to make a decision regarding the expansion of the league by the end of 2026, although he has not yet committed that new teams will indeed be added.

The price may be unprecedented. The NBA has made it clear that it is looking for an entry fee of between 7 and 10 billion dollars for each new club. According to industry sources, a team in Las Vegas is expected to be close to the top of the range, with a sum of 9 billion dollars already mentioned as a possible price point. Seattle is expected to be cheaper.

Among the leading contenders for Las Vegas are the owner of the Vegas Golden Knights from the NHL, Bill Foley, as well as Nancy Walton Laurie, heiress to the Walmart family, and her husband Bill Laurie. Another group, which includes, among others, legendary NBA executive Jerry Colangelo and former coach and player Vinny Del Negro, announced that it is capable of raising up to 13 billion dollars for the proposal and the construction of a new arena. According to several sources, the Laurie family's group is considered the leading candidate, although there is no consensus on this.

In Seattle, which lost the SuperSonics in 2008, the only candidate whose identity is known is Samantha Holloway, the owner of the Seattle Kraken from the NHL. Holloway has already publicly stated her desire to bring the NBA back to the city, but Silver has previously clarified that the fact that no other candidates have been revealed does not mean that there are none.