It was a busy day for NBA executives, gathered for the owners’ meeting in Midtown Manhattan. The league’s expansion to 32 teams took a significant step forward, with all 30 owners voting unanimously to proceed. This vote allows the NBA to begin receiving binding bids from potential owners for two new franchises in Seattle and Las Vegas.
While not yet a definitive approval, which will require a subsequent vote, this is a crucial step indicating a strong likelihood of expansion. Things are moving faster than previously anticipated, with the new teams potentially starting play as early as the 2028-29 season. However, joining this exclusive club will not be cheap; the acquisition cost for each franchise in Seattle and Las Vegas is estimated to be between 7 and 10 billion dollars.
NBA Commissioner Adam Silver stated, “Today’s vote reflects the intention to explore interest in a possible expansion to Las Vegas and Seattle – two markets that have a rich basketball history and have long supported the NBA.”