The Lakers star is seeking financial partners to become the owner of one of the NBA’s expansion teams once he retires
After winning a gold medal with the United States at the Olympic Games, LeBron James is now focused on the upcoming season, where he aims to fulfill one of his dreams: to share the court and play alongside his son Bronny in the NBA.
‘King’ James has a contract with the Lakers for this season, earning $48.7 million. He also holds a player option for the 2025/26 season worth $52.6 million. His retirement doesn’t seem far off, which is why he’s already planning his future for when the time comes to hang up his jersey.
In fact, his intention is to maintain a significant presence in the NBA, and he has a clear plan to achieve this.
According to Fortune, the four-time NBA champion plans to make a bid for one of the new expansion teams that the NBA is expected to approve, specifically the franchise to be established in Las Vegas.
“The list of potential contenders includes, among others, LeBron James and his sponsors, as well as the company that owns the Red Bull brand,” Bloomberg reports.
“The imminent bidding war for the NBA expansion team expected to be awarded to Las Vegas is shaping up to be the most competitive and costly sports deal in U.S. history.
“The list of potential contenders includes, among others, LeBron James and his sponsors, as well as the company that owns the Red Bull brand, according to sources familiar with the situation.
“The total price, including the construction of a new stadium, could reach $7 billion, according to two sports advisors who have previously sold NBA teams.”
LeBron, 39, has long desired the opportunity to take on the role of owner/governor of his own team, but the opportunity has not presented itself until now.
With 20 years of experience in the NBA, he intends to maintain his influence even after retiring, following in the footsteps of another legend like Michael Jordan, who was the majority shareholder of the Charlotte Hornets. Las Vegas represents his best chance to achieve this goal.
More Teams in Las Vegas
With a population of 656,274, Las Vegas, Nevada, is one of the most popular hubs in its area and has become world-renowned for its casinos, shows, and nightlife that attract millions of tourists every year.
Las Vegas has never had much presence in professional sports, but that has changed in recent years.
From the Golden Knights (hockey) and the Raiders (football) to the Aces (women’s basketball), Las Vegas is a rising sports city, and the NBA could be next in line to seize the opportunity.
The NBA has already made Las Vegas the host city for its recently established NBA Cup tournament, and Team USA has used the city as a training center for its players before international tournaments for years.
Two or Three New Franchises
The NBA is working to include at least two or three more franchises in the league. One of them is likely to be based in Seattle, another in Las Vegas, and possibly another in Mexico City.
It’s clear that those wanting to lead these projects will have to dig deep into their pockets, as it’s estimated the NBA will ask for a minimum of $6 billion from each.
Part of that money would be distributed among all existing franchises-about $400 million to each if there are two new teams, and a bit more if there are three.
Las Vegas is undoubtedly the most likely city for expansion, and that’s good news for LeBron James, who has already admitted in the past that he wants to own a team in Las Vegas. As one of the sport’s biggest pioneers, it’s likely that the NBA would welcome his bid when they’re ready to add the new teams.
The only hurdle for LeBron would be securing the funds. James is a billionaire, but to tackle such a massive investment, which could reach around $7 billion, he would need some business partners and other connections to build a suitable ownership group capable of carrying out this major operation.
source:marca.com
