New NBA Rumors on Expansion Timeline, Franchise Values for Las Vegas, Seattle

The NBA Board of Governors previously authorized an exploration of expansion into Las Vegas and Seattle back in March, and now the process is advancing into further stages, per ESPN's Shams Charania, who provided an update on Tuesday's edition of NBA Today .

"The NBA and [Commissioner Adam Silver] are in deeper and deeper stages of the expansion conversation, and I'm told specifically for Las Vegas the next round of bids for an expansion team in Las Vegas are due on Thursday, and then final bids expected to be some point shortly thereafter. My understanding is proposals for that Vegas team is reaching and potentially exceeding $10 billion, and so far, the Vegas process has moved with more pace than Seattle, but those Seattle conversations are continuing as well.

"And remember, the league has been targeting as soon as the 2028-29 season for the start of these expansion teams, and they all are also projecting both teams to be in the top 10 in terms of market and revenue share moving forward.

"And so right now, Adam Silver is gonna continue the bids process, and it's unclear when a final vote would be, and I think over the next couple of months, we're gonna get clarity on the final offers, potentially $10 billion-ish in Las Vegas, potentially $7 billion range in Seattle, and then a potential vote to finalize expansion to 32 teams."

Seattle was home to the beloved SuperSonics from 1967-2008, and the team won three Western Conference titles and one NBA championship.

The team relocated to Oklahoma City and became the Thunder shortly after Clay Bennett and his ownership group bought the team in 2006.

The city and that fanbase certainly deserves another NBA team and already supports a host of successful professional sports franchises.

Las Vegas is the home of the NBA's annual summer league, where games are played every July at the Thomas & Mack Center and Cox Pavilion.

The league also hosts the semifinal and championship matchups of the Emirates NBA Cup in Las Vegas' T-Mobile Arena.

Las Vegas has become a professional sports hotbed in the last decade with the Golden Knights, Aces and Raiders calling the city home and the Athletics shortly doing the same in 2028.

Mick Akers of the Las Vegas Review-Journal gave a rundown of the Vegas ownership groups in the running. They include a group led by Golden Knights owner Bill Foley, a group led by ex-Phoenix Suns owner Jerry Colangelo (dubbed the "Las Vegas Jacks"). Akers also said that "Walmart heiress Nancy Walton Laurie and her husband, Bill, are also in the mix ," and he added there is a fourth group that has "not been publicly identified."

As for Seattle, commissioner Adam Silver had high praise for Climate Pledge Arena, home of the WNBA's Storm and NHL's Kraken.

"In Seattle, we have had operational groups out to Climate Pledge," Silver said Tuesday, per KOMO News Senior Reporter Chris Daniels . "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 also noted. "So, because we can only take on so much at once, the more of the discussion was around Las Vegas."

As far as a potential ownership group, Cameron Van Til of Seattle Sports gave insight into a clear candidate back in May.

"One Roof Sports and Entertainment, launched by Seattle Kraken ownership as a parent brand on Monday, has already emerged as a potential candidate. One Roof CEO Tod Leiweke confirmed to KING 5 on Wednesday that the group will pursue ownership of a Seattle NBA expansion team.

"However, NBA commissioner Adam Silver said during a press conference Wednesday that he expects 'multiple bidders' in Seattle and Las Vegas."

Ultimately, all signs are pointing to Seattle and Las Vegas getting teams. We're still some ways from that becoming a reality, but the table is set.