Fenway Sports Group and Lakers F LeBron James are “not currently interested in pursuing” a potential NBA expansion team in Las Vegas, according to sources cited by Vardon & Vorkunov of THE ATHLETIC. A source said that FSG was “out on NBA ownership in Las Vegas because of the expected cost” — the league is reportedly seeking expansion fees “as high as $8 billion per team.” James, when asked Wednesday if he was still interested big-picture in NBA ownership, said, “No, I’m not. … Not at all.” A source close to James said, “With Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team.” Vardon & Vorkunov noted FSG was “long expected to be James’ primary financial backer in his stated desire to be an NBA team owner.” James is reportedly worth $1.4B as of Wednesday, according to Forbes. But his personal worth is “not nearly high enough to cover the cost of the expansion fee,” and he was “always going to need to join a team of investors to make his bid come true.” FSG was “always a part of his grand plan for NBA ownership,” and it “seems it could take a change of heart by the firm, or a rule change by the league, for his plan to move forward” (THE ATHLETIC, 3/18).
FINDING ALTERNATIVES: CBSSPORTS.com’s Jasmyn Wimbish noted there are “certainly other avenues James could explore if he wants to own the Las Vegas franchise, like collaborating with other business partners he no doubt has in his extensive Rolodex.” There is also “always the chance that Fenway Sports Group could change its mind.” But before James could “even launch a bid to own an NBA team, he would first have to retire — a detail that is still up in the air” (CBSSPORTS.com, 3/18).
NEW PLAYER AT THE TABLE: THE ATHLETIC in a writer roundtable looked at Las Vegas as a sports market. Mike Vorkunov noted NBA “could certainly have made a larger impact if it were the first” league to the market instead of following the WNBA, NHL, NFL and potentially MLB. Vorkunov: “The NBA, if it comes, could be the fifth professional league and team in the market. Would that competition hamper them on the commercial side locally? It’s hard to say.” Vic Tafur noted there is a “growing sense of pride in Las Vegas as a new sports capital of the country, full of new stars.” The Raiders “haven’t been able to capitalize on that, but the NBA is a different animal,” and there “should be some excitement for the nightly arrival of the league’s best players, even if the new team doesn’t have any at first.” Tafur: “I have much more confidence in an NBA team succeeding than I do the Athletics baseball team, due to the NBA having fewer (and cooler) games. But the NBA needs to take a page from the NHL’s book and set up the new team with a chance to win early — or at least get some big names — to get Las Vegas to notice and care early” (THE ATHLETIC, 3/19).
LET’S CHAT: In Seattle, Tim Booth noted Washington Gov. Bob Ferguson’s upcoming schedule of events released on Wednesday listed that he and NBA Commissioner Adam Silver “would be meeting next Monday afternoon,” the day before the league’s owners gather in N.Y. for two days of meetings where expansion is expected to be the primary topic. This will be the “second conversation between Ferguson and Silver after the pair met virtually in early February in what was characterized as an introductory meeting” (SEATTLE TIMES, 3/18).