After winning a gold medal with the United States at the Olympic Games, LeBron James is now focused on the upcoming season, where he aims to fulfill one of his dreams: to be able to coach his son Bronny and ensure that he is able to play in the NBA.
‘King’ James, the 32-year-old Los Angeles Laker’s new signing, is expected to feature for the team this season, while being paid $48 million. He also has a player option that will allow him to remain on the team for the next season which is the 2025/26 season and will earn $52. 6 million. This cannot be regarded as shocking given the fact that his retirement does not seem long from now and probably he has contemplated a lot about what he wishes to engage in other than football.
However, his goal is to maintain its dominant presence in the NBA and he knows how they can achieve it.
When talking to Fortune, the four-time NBA winner said that he wants to buy one of the new expansion teams that the NBA is going to approve eventually, for starters, a Las Vegas-based team.
Other possible candidates may include but are not limited to, LeBron James and his sponsors and the company that owns the brand Red Bull, as reported by Bloomberg.
The bidding war on the existing NBA expansion team that is to be relocated to Las Vegas has become so acute and record-setting that it may be seen as a precedent in the history of American sports.
The list of other possible bidders includes LeBron James and his backers, and the owner of the Red Bull brand, insiders say.
Also Read: CeeDee Lamb Secures 4-Year, $136 Million Extension with the Dallas Cowboys
Sport experts also pointed out that the total price, including the construction of a new stadium, could rise to $7 billion, as said by two sports advisors who have sold NBA teams before.
LeBron, who is 39 years old, has always wanted to be the owner or governor of his own team but the opportunity has only come now.
After 20 years of NBA experience, he wants to continue to be involved in its management, as does another great legend, Michael Jordan, who was the owner of 80% of the shares in the Charlotte Hornets. This is why Las Vegas remains his only hope of realizing his dream.
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More Teams in Las Vegas
Las Vegas, Nevada, is one of the most significant hubs in its region, with a total population of 656,274 and it became worldwide famous because of its casinos, shows and nightlife, which millions of tourists come to visit every year.
Professional sports have rarely existed in Las Vegas, but that has not been the case in recent years.
From the Golden Knights (ice hockey) and the Raiders (football) to the Aces (women’s basketball), Las Vegas is on its way to becoming a sports city, and hence the NBA can follow suit.
The NBA has already chosen Las Vegas as the host city for the newly developed NBA Cup championship and Team USA has been practicing its players in Vegas several years prior to international tournaments.
Two or Three New Franchises
Even now, it is trying to add at least two or three more franchises to its league. One may be expected to be in Seattle, another in Las Vegas and maybe another in Mexico City.
Interestingly, anyone who wishes to lead any of these projects should be prepared to spend a lot of cash since it is believed that the NBA will demand at least $6 billion from each.
Some of that money would go to all existing franchises—roughly $400 million apiece if there are two new teams, slightly more if there are three.
The team that is most likely to expand is in Las Vegas, and this is good news for LeBron James, who has in the past stated that he would love to own an expansion team in Las Vegas. Being one of the biggest pioneers of the sport, it is probable that the NBA will welcome his bid when they increase the number of new teams.
The only challenge that LeBron would have is looking for money. James is a billionaire for sure but to undertake such a monstrous investment plan, which may go up to $7 billion for acquiring a team, he will need some business associates and others to form the right ownership group to be able to execute this huge syndicate.
FAQs
Q. How much will Vegas NBA team cost?
A. A $7 billion investment would peak the current industry’s high of $6.5 billion that a group led by Josh Harris paid last year for buying the NFL’s Washington Commanders and the team’s stadium. One large control on cost will be where the Las Vegas NBA franchise calls home.
Q. What is the cheapest NBA franchise?
A. In the analysis of the franchise value of the basketball teams in the NBA, it was found that the Memphis Grizzlies had the least value in the 2022–23 season. At that particular time, the NBA franchise was estimated to be worth $2.4 billion US dollars.
Q. Who is the richest NBA team?
A. In the most recently published ranking, it stated that after the 2021–22 NBA season, the Golden State Warriors are the most valuable NBA franchise team in the league.
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