NBA Explores Expansion with Potential New Franchises in Las Vegas and Seattle

The NBA is currently evaluating the possibility of expanding by adding up to two new franchises, focusing on Las Vegas and Seattle. The league has engaged PJT Partners to assist in this exploration and has requested interested bidders to submit detailed proposals, including financial information and potential ownership structures.

Las Vegas has a second bidding deadline set for September, while Seattle currently has only one submission deadline. The NBA has not confirmed any expansion plans, and Commissioner Adam Silver has indicated that the league may not add teams despite the ongoing process, which began in March.

The expansion fees for new franchises are projected to be between $7 billion and $10 billion, with Las Vegas expected to command a higher fee. Prominent bidders for the Las Vegas franchise include Bill Foley and Nancy Walton Laurie, among others. In Seattle, Samantha Holloway is the only known bidder, expressing her commitment to bringing an NBA team back to the city.