How can LeBron James set up an NBA team in Las Vegas? Here are all the details
LA Lakers star LeBron James recently reiterated his desire to own an NBA team in Vegas, sending notice to Adam Silver. He’s already the part owner of multiple sports teams, including the MLB’s Boston Red Sox, NHL’s Pittsburgh Penguins, and EPL giant Liverpool F.C.
James first made his desire to own an NBA team known during an episode of "The Shop," and double-down on it, saying:
“He [Adam Silver] probably sees every single interview and transcript that comes through from NBA players,” James said. “So, I want the team here, Adam.”
While discussions about the league looking to expand have been floating around for a while now, Adam Silver has pushed them aside for the near future. There are a lot of factors that will go into that decision, including two-thirds of NBA team owners getting on board.
“As I said before, at some point, this league invariably will expand, but it’s not at this moment that we are discussing it,” Silver said in June.
Although LeBron James’ wish will take some time to reach fruition, there are a few factors to consider.
How can LeBron James set up an NBA team in Las Vegas?
A handful of former players own a stake in NBA teams, including Michael Jordan, Grant Hill, and Dwyane Wade. Hill has ownership of the Atlanta Hawks and Wade of the Utah Jazz, both in the minority stakes. That is probably the route LeBron James can take into ownership.
Although James recently became a billionaire, the amount of money he would have to cough up for a majority stake would be too high. The most recent sale of an NBA team was of the Brooklyn Nets to Joseph Tsai in 2019 – for reportedly $2.35 billion. Prior to that, the Houston Rockets were bought by Tilman Fertitta for $2.2 billion.
From today’s BS Podcast: Why I believe the NBA is going to expand to Vegas and Seattle sooner than later, and why I believe LeBron will be part of the Vegas ownership group when it happens.
https://t.co/gBc5W3ixle
However, keeping the money factor aside, the league’s collective bargaining agreement doesn’t allow active players to own a stake in any franchise. The earliest alteration to the current CBA would be possible in 2024, but per Silver’s statements it seems unlikely. That being said, there’s still a loophole for James if he wants it now. Players are allowed to own a stake in the company that owns NBA teams, which opens the door for James to act – via his stake in Fenway Sports Group.
"They [Fenway Sports Group] have been circling different NBA teams for a while. I think they looked at Minnesota. And I think they’re the leading contender for Vegas," Bill Simmons said on his podcast. "If I had to bet on a LeBron scenario, it would be for him to be involved with whatever happens with that — where he is the point man in that Vegas team."
While LeBron James has a lot of options to consider, it is clear that sooner or later he will be an NBA team owner. Fulfilling that ambition will be a big deal for the four-time champion. He will go from earning his way into the league to owning a team in the same league, a major accomplishment.