The NBA's board of governors has voted to move forward with exploring expansion bids for Seattle and Las Vegas, marking the league's first potential expansion since 2004. The decision, announced Wednesday, signals a significant step toward adding two new franchises.
Commissioner Adam Silver confirmed that the league will evaluate bids over the coming months, with franchise values expected to range between $7 billion and $10 billion. 'Today's vote reflects our Board's interest in exploring potential expansion to Las Vegas and Seattle – two markets with a long history of support for NBA basketball,' Silver said in a statement.
The expansion process comes after years of speculation, with Seattle having lost its SuperSonics in 2008 and Las Vegas emerging as a major sports market. Bids are anticipated from wealthy investors, including a group led by LeBron James. The NBA last expanded in 2004, adding the Charlotte Bobcats.
