NBA Expansion: Seattle & Las Vegas Bidding for 2028 Teams – Finances & Vote Details

The NBA’s Board of Governors is set to convene at the end of March 2026 to vote on a potential expansion of the league from 30 to 32 teams, with Las Vegas and Seattle widely considered the frontrunners to secure the new franchises.

The vote, anticipated to be a pivotal moment for the league, comes as both cities mount compelling cases for inclusion. Seattle is seeking to reclaim its NBA identity after the SuperSonics relocated to Oklahoma City in 2008, becoming the Oklahoma City Thunder. Las Vegas, meanwhile, aims to complete its collection of major professional sports franchises, already hosting teams in the NFL, NHL, and MLB, and boasting a successful WNBA franchise, the Aces, since 2018.

Seattle’s claim is bolstered by its status as the 13th largest media market in the United States, exceeding the reach of current NBA cities like Miami, Cleveland, Denver, Orlando, and Sacramento. Only Tampa Bay possesses a larger market without an NBA team, and that region is already served by the Miami Heat and Orlando Magic. The enduring popularity of the SuperSonics, despite their absence, suggests a strong fan base remains eager for the return of professional basketball.

Las Vegas, though a smaller media market at 42nd largest in the US, presents a unique appeal. The city’s association with sports betting and its ongoing efforts to diversify its economy beyond gaming are seen as advantageous. A 2023 University of Nevada, Las Vegas study indicated that sporting events already generate over $1.8 billion in annual economic growth for the city, driven by the presence of the Raiders (NFL) and Golden Knights (NHL), as well as major events like the Super Bowl, Formula 1 races, and WrestleMania.

The NBA has already demonstrated a willingness to embrace Las Vegas as a key market, hosting its annual Summer League tournament and the inaugural NBA Cup Finals in the city. The 41 regular season home games a franchise would bring would further amplify the economic impact.

Whereas the selection of Seattle and Las Vegas is not guaranteed, the financial implications of expansion are a significant driver for the existing owners. Currently, each of the 30 NBA team owners holds approximately 3.3% of the league. Expansion would dilute that ownership stake to around 3.1%, prompting the question of why owners would vote to diminish their individual control.

The answer lies in the substantial expansion fees that prospective owners would be required to pay. Recent sales of NBA franchises, such as the Boston Celtics for just over $6 billion and the Los Angeles Lakers for a market price of $10 billion, provide a benchmark for the potential cost of entry. New owners would likely require to secure between $6 and $10 billion to acquire a franchise.

Assuming a mid-range expansion fee of $8 billion per team, the proceeds would be distributed among the 30 existing owners, yielding over $533 million for each. This financial incentive, coupled with the potential for new teams to share in the league’s existing $76 billion, 10-year media rights deal, makes expansion a financially attractive proposition for current owners.

The Board of Governors requires 23 of 30 votes to approve expansion. While some owners may harbor personal grievances that could lead to opposition, the financial benefits are expected to sway enough support to reach the necessary threshold. The addition of two teams is anticipated to increase competition, expand the league’s television market, and potentially enhance the overall product on the court, positioning the NBA favorably in future media rights negotiations.

For potential new owners, acquiring an NBA franchise represents a potentially lucrative investment. While franchises like the Phoenix Suns and Portland Trail Blazers have recently been sold for around $4 billion, the higher valuations at the top end of the market suggest significant potential for appreciation, making investment in the NBA a compelling opportunity.