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Oh No He Didn't: Shams on expansion: "The NBA is focused right now on closing on the owner of the Las Vegas expansion team and then moving toward Seattle. And there are few reasons for that: One of the major ones being that there's just a hotter bidding market right now developing in Las Vegas and you have rising valuations approaching $10 billion, potentially even higher. I've also had some people close to the process tell me the NBA could close in Las Vegas and then see who the runner ups are that still have interest in joining the Seattle process. And that could bring some more competitiveness to that process. Now logistically, timing wise, the NBA still wants to have a decision by the end of the year"
"In Seattle, we have had operational groups out to Climate Pledge," Adam Silver said. "You clearly have a state-of-the-art arena there." "It may require some modifications for NBA basketball, but if we were opening, you know, in five weeks, we could be ready in Seattle," Silver added. "So, because we can only take on so much at once, the more of the discussion was around Las Vegas."
Silver also cast doubt on the question marks of the Las Vegas arena situation. "In Las Vegas, it's not even clear what the site will be, let alone the arena yet," said Silver. "Therefore, it's a much longer timeline [compared to Seattle] before we can throw the ball up for NBA basketball."
It should not be assumed that both Las Vegas and Seattle will be on the same schedule or be close to the same price point, ownership sources said. Preliminary bidders in the $8 billion range for Vegas quickly learned the number would be higher, sources said. A Seattle team, meanwhile, could be sold for considerably less.
Delonte West: "We were playing Cleveland, out in Seattle, the first month of the season, and I was cooking them. I remember we were sitting at the foul line, and LeBron James, he was like, man, I followed you in college. You remember that time I came to Philly at the Palestra to watch you play? And I was like, yeah, I remember. He was like, man, you want to come play with Cleveland? I thought he was just doing a veteran trick. (...) I thought he was just trying to get me out of my game by getting familiarity. But he was serious. He asked me to come play with Cleveland."
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Some buzz was generated in mid-August when BlackSun Private Equity announced its intent to be part of the NBA expansion conversation in Seattle, joining One Roof Sports and Entertainment as a second publicly known bidder. It was an unexpected proposal submitted to the league from a group with no significant local ties, claiming it could raise $8.1 billion to make the transaction possible.
A second bidder on a potential expansion NBA franchise in Seattle is developing a plan to build a new arena on land near Marysville, a Washington town located 35 miles north of the Emerald City. BlackSun Private Equity, a New York-based firm that in August submitted a bid to bring the NBA back to Seattle, is working with the Tulalip Tribes to build the arena on tribal-owned land if it secures the franchise.
A basketball arena on Tulalip tribal land near Marysville would represent a considerable commuting challenge for Seattle-area fans. Rush hour commutes from downtown Seattle to this location routinely take over an hour, and it would be even longer from the more populated areas south of the city (including the city of Tacoma and the Seattle airport).
A second bidder on a potential expansion NBA franchise in Seattle is developing a plan to build a new arena on land near Marysville, a Washington town located 35 miles north of the Emerald City. BlackSun Private Equity, a New York-based firm that in August submitted a bid to bring the NBA back to Seattle, is working with the Tulalip Tribes to build the arena on tribal-owned land if it secures the franchise. Nick Rathod, chief global strategy and communications officer for BlackSun, confirmed to The Athletic on Friday that BlackSun and the Tulalip Tribes are “100 percent partnering” to build a new arena and entertainment district, if the NBA chooses to move forward with their bid.
While the NBA has identified a second deadline for bidders in Las Vegas, the sources said there is only one for Seattle at the moment. Those sources also believe the NBA will select an owner in Las Vegas before the league moves on to a decision in Seattle.
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The expansion fee for franchises in each city is unknown. The NBA has made it known that it is seeking $7 billion-$10 billion for each new team. A Las Vegas franchise is expected to be on the high end of that range, with some industry sources floating $9 billion as a price point. Seattle is expected to draw less for its expansion fee.
While the NBA has identified a second deadline for bidders in Las Vegas, the sources said there is only one for Seattle at the moment. Those sources also believe the NBA will select an owner in Las Vegas before the league moves on to a decision in Seattle. The expansion fee for franchises in each city is unknown. The NBA has made it known that it is seeking $7-10 billion for each new team. A Las Vegas franchise is expected to be on the high end of that range, with some industry sources floating $9 billion as a price point. Seattle is expected to draw less for its expansion fee.
One league office source also told ESPN that the NBA is prioritizing a Vegas sale before a Seattle sale to lock in a premium franchise fee that will set a precedent of what the NBA expects going forward. While there are still several groups in the running for Las Vegas, even with Iger and Kushner out, it remains to be seen if any sale will be approved at the next BOG meeting. "We'll see what happens in September," the source said. "If they took a vote today, it wouldn't pass. ... It's all about the [fee price]." Furthermore, several sources told ESPN that Silver and many of the league's owners still view NBA Europe -- a 16-team league set to launch in October 2027 that still has to finalize which cities it will compete in -- as a bigger priority.
Where could the Blazers go if they decide to leave? If the NBA goes to Las Vegas or Seattle, it will be through expansion. The league is exploring that right now, and it wouldn’t pass up $6 billion-$10 billion in expansion fees. So where else could the Blazers go? Raleigh comes to mind. Dundon’s Hurricanes play there and their arena did just get renovated. Raleigh is roughly the same size media market as Portland, but the Hornets play 150 miles away. Austin — about 200 miles from Dallas, where Dundon lives — could make sense but the San Antonio Spurs are trying to expand their market to capture the city. Would the Memphis Grizzlies consent to Nashville accepting a new team?