The NBA’s board of governors has voted to move forward with Seattle and Las Vegas as target cities for the league’s first expansion since 2004. The decision, announced this week, opens the door for bids from prospective ownership groups in both markets.
Bids for each new franchise are expected to range from $7 billion to $10 billion. The league will now evaluate these bids over the coming months, with a final decision anticipated later this year.
“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,” said Commissioner Adam Silver in a statement. “We look forward to taking this next step and engaging with interested parties.”
The move ends a lengthy hiatus for the NBA, which last added a team in 2004 with the Charlotte Bobcats. If approved, the expansion would bring the total number of franchises to 32.
