The NBA continues to move toward a possible expansion. According to Bloomberg, the league has received signs of interest from several investor groups for new franchises in Las Vegas and Seattle.
Early indications suggest Las Vegas is drawing stronger interest than Seattle, with expansion fees potentially reaching up to $10 billion. No formal bids have been submitted at this stage.
PJT Partners, the NBA’s adviser, is canvassing potential ownership groups ahead of a formal bidding phase expected later this year. The Board of Governors is also expected to vote later this year on whether to approve one or two new teams.
Source: Bloomberg News
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