The NBA now seems ready to add a new franchise, based on Las Vegas.
The many events (Summer League and Final Four of the In-Season Tournament above all) and the hosting of the G-League Ignite Team are some of the steps the NBA has taken toward the Nevada city. Added to the many rumors, however, has been the Adam Silver delivering to LeBron James the NBA Cup MVP trophy added, “It’s too bad that along with the cup doesn’t come a franchise.”
Clear words. Just as clear is LBJ’s intention to be a protagonist of this new franchise, perhaps not on the court but as an owner. Also involved in the operation Gerry Cardinal with RedBird. Although the Milan-orbit executive explained that the costs are probably now too high for “traditional” investors, opening the door for the emirs to enter the NBA.
Together with LeBron James and Fenway Sports Group we are trying to get the NBA to expand by bringing a franchise to Las Vegas. We have been working on it for three years but at that time the estimated cost was $3 billion, now we are talking about practically double that. I’m not so sure it’s a good deal for us anymore. We should be at the peak of this growth but if these valuations continue to increase, then we will need different capital. We have probably gone beyond our means, which is why it may be better to pass the baton to a sovereign state.
Source: Sky Sports