Odds Of NBA’s Plans For a Las Vegas Expansion Team Rise
The odds of the NBA’s plans for a Las Vegas expansion team are rising, per Matty Simo of Casinos.com. Read on for the latest about the NBA Board of Government meetings scheduled for March 24 and 25.
In Case You Missed It
Previously, Total Apex Sports reported on whether or not Mark Cuban would buy back the Dallas Mavericks. Our staff also included the angle of the Adelson’s potentially pursuing a Las Vegas expansion team.
Las Vegas Expansion Team’s Odds Rise
With the NBA Board of Government meetings taking center stage this week, Las Vegas and Seattle are the two hottest expansion team cities at the time of writing. Moreover, the Las Vegas expansion team’s odds are dubbed as a “slam dunk” by many individuals. Seattle and Las Vegas are expected to get the NBA’s approval. If approved, both expansion teams would start playing in the 2028-29 NBA season.
ESPN’s Shams Charania first reported the trending topic on X, formerly Twitter. Charania, 31, wrote, “Just into @GetUpESPN on momentum for the NBA to begin exploring expansion teams exclusively in Las Vegas and Seattle ahead of a vote at the Board of Governors this month:” and attached a video of his appearance on ESPN’s “Get Up.”
According to Charania, both Seattle and Las Vegas should earn at least $7 to $10 billion in expansion fees and quickly become valued among the top eight revenue generators. If this turns out to be true, the Las Vegas casinos would benefit, especially MLB’s Athletics coming to town.
Previously, Charania broke down how the entire process would work for the first vote, which would allow the NBA to explore purchase processes for the Seattle and Las Vegas expansion teams. He added that there will be a potential final vote later this year in order to finalize the transactions to the hypothetical 32 NBA teams.
For both teams’ approval, 23 of the current 30 NBA teams must vote “yes.” Furthermore, the NBA hasn’t had an expansion team since 2004, when the Charlotte Bobcats (now Charlotte Hornets) were added as the NBA’s 30th team.
The Bobcats were rebranded to the Hornets ahead of the 2024-15 NBA season — partially due to the British General Cornwallis deciding to leave Mecklenburg County, North Carolina, in 1780, but not before dubbing the region as the damned hornet’s nest of rebellion.
Where Would Las Vegas Expansion Team Play?
If Las Vegas gets an expansion team, the Las Vegas expansion team would require a venue to play in, but where exactly? The T-Mobile Arena, the home of the NHL’s Vegas Golden Knights, would be the most logical venue to play in. Golden Knights Owner Bill Foley has reportedly proposed a $300 million renovation budget to make the necessary upgrades to the arena to accommodate an NBA team and a fellow tenant.
However, some other companies and real estate developers have been eyeing a new venue for the potential Las Vegas expansion team. Real estate developer LVXP reportedly hopes to build an 18,000-seat arena on 27 acres of land near Resort World, Fontainebleu, Sahara, or Wynn/Encore. LVXP’s project would be part of a larger mixed-use development that will include hotels, residential towers, and additional attractions.
Resorts World President and CFO Carlos Castro said that there are plans to redevelop Circus Circus to support the venue at the adjacent site by increasing traffic to the North part of the Strip. LVXP’s project would be built as part of a larger, undeveloped 46-acre site, per Castro.
The Clark County Commission unanimously approved the necessary plans and permit for LVXP’s project in Dec. 2024. The project not only includes the arena but also three high-rise towers, including hotels and luxury condos.
