Who will own the new NBA teams? Early candidates for Seattle and Las Vegas expansion franchises
With expansion officially underway in the NBA, the question now is who will own the two new teams set for Seattle and Las Vegas?
After much anticipation, the NBA has approved the next phase of expansion, with the league set to explore bids for two new teams.
This starts the NBA's 32-team expansion process. Multiple high-ranking officials have termed expansion as "when, not if." Now the NBA will examine Seattle and Las Vegas bids over the next several months, and whether to execute the new franchise purchases now or in a few years. https://t.co/Rkd0fZ41c7
— Shams Charania (@ShamsCharania) March 25, 2026
Following approval from the Board of Governors to explore expansion in Seattle and Las Vegas, the bidding process is expected to draw some of the wealthiest investors in sports and business. With expansion fees projected between $7 billion and $10 billion per team, ownership will be limited to elite-level financial groups.
Here are some of the early names and groups to watch.
Who could own the new NBA franchises?
Seattle: Familiar names with deep pockets
Seattle’s path to an NBA return has long been tied to established local power brokers.
Jeff Bezos
The Amazon founder has frequently been linked to NBA expansion rumors. With deep ties to Seattle and the financial capability to easily meet expansion costs, Bezos would instantly become one of the most powerful owners in the league if he chooses to bid.
Local ownership groups
In addition to Bezos, multiple Seattle-based investment groups have shown interest over the years, often with a focus on restoring the SuperSonics brand and maintaining local control.
Las Vegas: Star power, uncertainty and a shifting ownership picture
Las Vegas remains one of the most attractive expansion markets in professional sports, but the race to own a franchise there is already taking unexpected turns.
LeBron James
For years, LeBron James has been widely viewed as a natural future owner for a Las Vegas NBA team, openly expressing his desire to bring a franchise to the city after his playing career.
However, that path is now far less certain. A recent report from The Athletic revealed that Fenway Sports Group, James’ longtime business partner, is not currently pursuing an NBA expansion bid. A source close to James added that without Fenway’s involvement, it is now “less likely” that he will be part of an ownership group.
While that doesn’t completely rule him out, it significantly reshapes what once seemed like the most obvious pairing in the expansion process.
Other potential ownership groups
With Fenway stepping back, the door opens wider for other deep-pocketed investors. Firms similar to RedBird Capital Partners, as well as other global sports ownership groups, could emerge as serious contenders given their experience managing multi-team portfolios and navigating large-scale media deals.
Casino and entertainment power players
Las Vegas’ identity as an entertainment capital also makes it unique among expansion candidates.
Major casino executives, resort operators, and entertainment industry figures are widely expected to explore bids, particularly as live sports continue to drive tourism and revenue in the city.
What the NBA is looking for and what comes next
The league isn’t just looking for wealth. They want stability, long-term vision, and global brand growth. Ownership groups will need to have deep financial liquidity, strong arena partnerships, media and marketing reach, and a commitment to long-term competitiveness.
With expansion fees potentially reaching $10 billion, these franchises would instantly become the most expensive teams ever purchased in sports history. That price point ensures the NBA will be highly selective, and that only the most serious bidders will make it to the final stage.
As the bidding process unfolds over the coming months, more ownership groups are expected to emerge. While Seattle and Las Vegas appear to be the clear frontrunners, the real competition may come down to who is willing to pay, and who best aligns with the NBA’s long-term vision.
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