“The league had initially hoped to have its new expansion franchises begin play during the 2028-29 season \u2013 if it added ones in Las Vegas and Seattle \u2013 but it has explored whether a Sin City team could debut in 2029-30 instead, though that is just a discussion at this point,” Vorkunov reports.<\/p>\n
NBA prioritizing Las Vegas franchise over Seattle <\/p>\n
Per earlier reports, the Las Vegas expansion team will be prioritized over a Seattle franchise, with a livelier bidding market, higher offers, and the logistical challenge of developing a new arena factoring into the process.<\/p>\n
The runners-up for the Las Vegas franchise could eventually compete and bid for the Seattle team.<\/p>\n
With bids expected to reach at least $12 billion to $13 billion, three finalist groups have emerged for the Las Vegas franchise: Nancy Walton Laurie and Bill Laurie; Steve Apostolopoulos and Marc Lasry; and Bill Foley and Jerry Colangelo.<\/p>\n
New Las Vegas team could play at T-Mobile Arena <\/p>\n
Vorkunov adds that while the eventual owners of a Las Vegas expansion franchise would most likely be expected to build a new arena, there is also a possibility that the team could play at T-Mobile Arena.<\/p>\n
However, that option would require significant renovations to the venue, which could reportedly cost around $400 million.<\/p>\n
Building a new arena, on the other hand, could cost around $2 billion. Combined with the expansion fee, that could push the total financial commitment for whoever lands the franchise to around $11 billion to $12 billion, if not more.<\/p>\n
“There is real excitement around a renovated T-Mobile Arena,” Silver said last month. “I think everyone acknowledges if a team were to stay there, it needs some significant improvements. But at the same time, there are groups who have presented plans to build what I would call a modern entertainment palace in Las Vegas. It’s a unique market where you could truly see essentially 365-days-a-year activity.”<\/p>\n
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