League expansion process
EXPANSION — bids 2026, play ~2028-29 (~$7-10B fee) · as of 2026-06-20 · confidence High
New NBA franchise, no incumbent owner — open, league-run process. Kraken's Holloway leading a Seattle bid (advised by JPMorgan/Moelis).
Open, league-run process; no incumbent. ~$7-10B fee, play ~2028-29. Move: assemble a league-credible group and engage the NBA's advisor (PJT Partners).
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).
Assemble a Seattle-anchored ownership group and engage PJT Partners — bids open 2026.
Win the seat (~$7–10B fee) and shape the arena/media package before tip-off.
First-cycle expansion equity typically re-rates 30–50%; the entry price looks cheap by 2030.
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.