LeBron James' NBA team ownership dream in Las Vegas could cost a whopping $7 billion: Report
LeBron James has long expressed his desire to own an NBA team someday, particularly in Las Vegas, the largest city in Nevada. However, this ambition comes with a hefty price tag, as a recent report suggests that an expansion team in Las Vegas would cost an astounding $7 billion.
A Bloomberg report indicated that the proposed NBA expansion team in Las Vegas is expected to become the most expensive sports franchise in U.S. history, with the expansion fee and a new stadium projected to total around $7 billion.
This figure, according to the report, would surpass the current record of $6.05 billion, which a group led by Josh Harris paid last year to acquire the NFL’s Washington Commanders and their stadium.
LeBron James and the owners of Red Bull are rumored to be interested in acquiring the NBA’s Las Vegas expansion team, which would be the league's first new franchise since 2004 when Charlotte was awarded a team.
The NBA has signaled its intent to consider expansion opportunities after finalizing new television rights deals, making it a suitable time for investment in the league.
While James is keen on owning a team, he would likely need to be part of a larger ownership group to amass the required capital for such a substantial investment.
As the first active NBA player to become a billionaire, LeBron James has an estimated net worth of $1.2 billion as of July 2024, which is nearly $6 billion short of the expansion team’s estimated price.
What LeBron James has said about wanting to own NBA’s Las Vegas team
LeBron James has publicly stated his desire to own an NBA team, specifically wanting it to be based in Las Vegas.
LeBron James expressed his ambition in an episode of "The Shop" in 2022, saying:
"I wanna own a team. Yeah, I want to buy a team, for sure. I would much rather own a team before I talk [about the game]. I want to own a team in Vegas. Yeah, I want the team in Vegas," he said.
After a game in Las Vegas in the 2022 preseason, LeBron directly called on Adam Silver to allow him to be the owner of the NBA’s Las Vegas team.
“It's the best fan base in the world and I would love to bring a team here... I want a team here Adam, thank you.”
LeBron has experience in sports team ownership, as he is part-owner of the Boston Red Sox and Liverpool FC.
NBA commissioner Adam Silver has mentioned Las Vegas as one of the cities under consideration for expansion franchises.
Seattle and Mexico City have also been frequently mentioned as potential expansion candidates.