NBA expansion fees are going absolutely bonkers, and it’s making the path home for a Seattle team look tougher than a Sam Darnold fourth-down conversion. The league is reportedly asking for anywhere from $7 to $10 billion for expansion teams in both Las Vegas and our Emerald City, a price tag that’s already soaring higher.
The Money Is Wild, and Vegas Has the Early Edge
The price tag for a new NBA team is so high, it’s making our heads spin here in the Emerald City. Mike Vorkunov from The Athletic says some league insiders are throwing around $9 billion for the Vegas spot. Yeah, you read that right: NINE BILLION DOLLARS! That kind of money would make an expansion team the second-most expensive NBA club sale *ever*, right behind the Los Angeles Lakers and their $12.5 billion valuation. Even the Warriors and Knicks, who are worth $10.8 billion and $10.1 billion respectively, aren’t touching that kind of expansion cash.
And get this, Seattle is “expected to draw less” than Vegas in expansion fees. Does that mean we’re seen as less valuable? It stings a little, especially when Vegas hasn’t even had an NBA team, just a super successful WNBA Aces squad with three championships in four years. Meanwhile, groups interested in Vegas have already been asked to submit a “more detailed portfolio” before a second bidding deadline sometime in September. The word on the street is the league might even pick a Vegas owner before they even move on to Seattle, where we’ve only had one bidding deadline so far. NBA commissioner Adam Silver said back in July that the league plans to decide on expansion by the end of 2026.
Our Kraken Owner Is Fighting, But Who Else Is With Her?
But don’t count us out yet! We’ve got our own heavy hitter in the ring: Samantha Holloway, the majority owner of our very own Kraken. She brought in JPMorgan Chase and Moelis & Co. back in May to help advise and structure her bid. She’s the only known bidder for Seattle, which makes you wonder, where are the others Silver suggested are involved but haven’t gone public? Come on, Seattle, let’s get those bids in!
Vegas has a couple of big names, too: Nancy Walton Laurie and Bill Laurie are frontrunners, though it’s not a done deal. And Bill Foley, who owns the Vegas Golden Knights and saw them win a Stanley Cup in three Final appearances during their first nine seasons, is talking a big game. He says they’ll do it “on steroids” with an NBA team. Sounds like a challenge, doesn’t it?
So, what’s next? The league wants to decide by the end of 2026. A board of governors meeting is set for September, but who knows if we’ll get any movement then. For now, it’s a waiting game, Seattle. Our city has been without an NBA team since the SuperSonics packed up in 2008, even with our WNBA Storm crushing it since 2000. Let’s hope Holloway’s bid, and maybe those other secret bidders, can show the NBA that the Emerald City is worth every penny, even if it’s “less” than Vegas.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Bleacher Report.
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