NBA Planning Las Vegas Expansion Team at Board of Governors Meetings

^{NBA Commissioner Adam Silver will be discussing the next steps for adding an expansion team in Las Vegas at the Board of Governors meetings on March 24 and 25. (Photo: John Locher / AP)}

LAS VEGAS – With the NBA Board of Governors meetings scheduled for March 24 and 25, the odds of Las Vegas officially becoming one of the two new expansion team cities are widely viewed as a slam dunk. 

Along with Seattle, Sin City is expected to get the league's approval, allowing both franchises to start playing during the 2028-29 season.

According to ESPN Senior NBA Insider Shams Charania, both Las Vegas and Seattle should fetch at least $7-10 billion in expansion fees and instantly become valued among the top eight revenue generators. This would obviously be huge for Las Vegas casinos, especially considering the timing that coincides with MLB’s Oakland Athletics moving to the Strip.

On Monday, Charania broke down exactly how the process will work for the first vote, which will “allow the league to explore purchase processes for Las Vegas and Seattle.” Charania noted that “there will then be a potential final vote later in the year to finalize transactions to 32 teams,” with votes from 23 of the current 30 needed for approval.

The NBA's last expansion was all the way back in 2004 when the Charlotte Bobcats were added as the 30th team. The Bobcats were rebranded back to the Hornets for the 2014-15 season. 

These will be the first two expansion teams under current NBA Commissioner Adam Silver, who has been a strong proponent of Las Vegas since taking over from David Stern in 2014.

North Strip Still in the Mix for NBA Arena?

T-Mobile Arena is widely seen as the most logical venue for the new NBA franchise to play, as it is already home to the NHL’s Vegas Golden Knights. Golden Knights owner Bill Foley has proposed a $300 million renovation budget to make the necessary upgrades to T-Mobile Arena to accommodate an NBA team.

However, many other companies and developers have their eye on a spot for the new team if Vegas does get one. 

Real estate developer LVXP still hopes to build an 18,000-seat arena on 27 acres of land on the Strip near Resorts World, Fontainebleau, Sahara and Wynn/Encore. The project would be part of a larger mixed-use development that would include hotels, residential towers, and additional attractions.

Resorts World President and CFO Carlos Castro has also said that there are plans to redevelop Circus Circus to support the venue at that adjacent site and help drive traffic to the North part of the Strip. The LVXP project would be built on part of a larger, undeveloped 46-acre site, according to Castro.

In December 2024, the Clark County Commission unanimously approved the necessary plans and permits for the LVXP project. In addition to the arena, the project features three high-rise towers, including hotels and luxury condos as part of a mixed-use development.

New Ownership Group Guided by Magic's Touch

Speculation is growing around potential ownership groups for a Las Vegas franchise as well.

According to the Las Vegas Review-Journal, Basketball Hall of Famer Earvin “Magic” Johnson reportedly met with Nevada Governor Joe Lombardo and other civic leaders last month to discuss his interest in a potential arena.

Johnson is worth an estimated $1.6 billion according to Forbes and does not currently hold a stake in the Los Angeles Lakers, his former team that he led to five NBA championships in the 1980s. He sold his 4.5% share in the Lakers back in 2010, but still holds minority stakes in several professional sports teams, including the Los Angeles Dodgers, Washington Commanders, Los Angeles Sparks, Los Angeles FC, and Washington Spirit (NWSL). 

He said he believes that his experience in sports investment sets him apart from others.

“Las Vegas is my favorite home away from home, and I can’t think of a better place to expand my MJE [Magic Johnson Enterprises],” Johnson said in a statement. “I’m not bragging; I’m just simply stating a fact that I have been doing this long before current and retired players.”

On the other hand, future Hall of Famer and fellow Lakers great LeBron James originally kept an eye on owning a team in Las Vegas after his possible retirement later this year. Despite his original interests, James told The Athletic on Wednesday that he is "not at all" interested in the current go at an NBA team in Vegas.