LeBron’s boldest gamble: $7 billion for acquiring the new Las Vegas franchise
After securing a gold medal with Team USA at the Olympics, LeBron James is now focused on the upcoming NBA season and one of his major aspirations: playing alongside his son Bronny in the league.
Currently, LeBron has a contract with the Los Angeles Lakers for this season, earning $48.7 million, and he holds a player option for the 2025/26 season valued at $52.6 million. With retirement potentially on the horizon, LeBron is already planning his future beyond his playing career.
According to Fortune, LeBron aims to stay prominently involved in the NBA by bidding for one of the new expansion teams expected to be approved, particularly the Las Vegas franchise.
Bloomberg reports that LeBron James, his sponsors, and the company behind the Red Bull brand are among the potential bidders. The cost of securing an expansion team, including the construction of a new arena, could reach up to $7 billion, as noted by sports advisors familiar with NBA transactions.
At 39 years old, LeBron has long aspired to own an NBA team, but this opportunity has only recently become feasible. With two decades of NBA experience, he hopes to follow in the footsteps of other legends like Michael Jordan, who was a majority owner of the Charlotte Hornets. Las Vegas presents a prime opportunity for him to achieve this goal.
Las Vegas, with its population of 656,274, is renowned for its casinos, entertainment, and nightlife, making it a popular destination for millions of tourists. Although historically not a major sports city, Las Vegas has seen a rise in professional sports presence with teams like the Golden Knights (hockey), the Raiders (football), and the Aces (women’s basketball). The NBA could soon join this trend.
The NBA is considering adding at least two or three new franchises, with likely locations including Seattle, Las Vegas, and potentially Mexico City. To lead these expansion efforts, bidders will need substantial financial resources, as the league is expected to demand a minimum of $6 billion per team. This investment would also contribute to the existing franchises, with approximately $400 million allocated to each team if two new franchises are added, and potentially more if three are included.
