League expansion process
EXPANSION — bids 2026, play ~2028-29 (~$7-10B fee) · as of 2026-06-20 · confidence High
New NBA franchise, open league process. Multiple Las Vegas groups expected. (NBA Europe, ~12 teams, separate channel, fall 2027.)
Open, league-run process; no incumbent. ~$7-10B fee, play ~2028-29. Multiple groups expected. Move: assemble a league-credible group early.
Advisor: NBA process (advisor: PJT Partners)
Control openness 5/5 · entry openness 5/5
Modelled chance the controlling stake reaches the market by each year. The shaded band is your current horizon (5–10 yr).
Multiple Vegas groups are already forming — decide whether to lead one or align as anchor LP with the strongest bid.
Win the seat or the LP slot; Vegas media/tourism upside is priced lower than Seattle by the market.
Ride the expansion equity re-rate; use the seat to angle for NBA Europe in the 2027 wave.
Strategic estimate for exploratory purposes only — not investment advice, not an offer, and not affiliated with or endorsed by any league or team. Ownership facts move quickly; verify before acting.