NEW YORK — It has been a story filled with twists and turns, stops and starts, and lawsuits and countersuits that could fill a book.
But on Wednesday, it could mark the beginning of the final chapter in a saga that has lasted nearly 20 years since the SuperSonics left Seattle.
The NBA Board of Governors, made up of the league’s owners, is scheduled to meet at a New York hotel to discuss league business. On the agenda is the possibility of expansion.
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It is widely expected that the board will advance a formal expansion process focused on Seattle and Las Vegas, potentially growing the league from 30 to 32 teams. At that point, more details could emerge about the price tag, timeline, and potential conditions, such as season ticket drives or revenue-sharing requirements. For now, those details remain unclear.
The NBA has not expanded since 2002, when Charlotte was awarded a franchise — then known as the Bobcats, now the Hornets — which began play in 2004.
The National Hockey League’s expansion process in 2015 offers a recent comparison. The NHL opened bidding for new franchises, but only Las Vegas and Quebec City submitted formal proposals. The league awarded a team to Las Vegas in 2016, and Seattle was later awarded a franchise in 2018.
A similar approach could be used by the NBA. In Seattle, Kraken owner Samantha Holloway has positioned herself for a potential bid. She recently purchased a majority stake in Climate Pledge Arena and created an umbrella organization, One Roof Sports and Entertainment, to pursue future opportunities.
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Tod Leiweke, CEO of One Roof, has extensive experience in professional sports leadership. He previously worked with Orca Bay Sports and Entertainment in Vancouver, which included the NBA’s Grizzlies and NHL’s Canucks, and later served as CEO of Vulcan Sports and Entertainment, overseeing the Seattle Seahawks and Portland Trail Blazers and helping guide the early development of the Seattle Sounders.
Leiweke was cautious in his comments on Monday in Seattle.
“If you look at the stars, maybe they’re aligning,” he said.
Finances remain a major question. Reports suggest expansion franchises could cost between $7 billion and $10 billion — far exceeding the $350 million sale price of the SuperSonics in 2006, when Howard Schultz sold the team to Clay Bennett. Bennett later moved the franchise to Oklahoma City after a lengthy legal dispute with the city, paying $45 million to break the KeyArena lease.
The Oklahoma City Thunder are now valued at nearly $4 billion, according to Sportico.
The loss of the SuperSonics has had lasting political and cultural effects in Seattle. Then-Mayor Greg Nickels failed to advance past the primary election following the team’s departure, with voters citing the Sonics deal and other issues.
Schultz, once a prominent figure in Seattle’s business and civic life, stepped back from the public spotlight and recently announced he is moving to Florida.
Seattle Mayor Katie Wilson, who is in her third month in office, issued a statement Tuesday signaling support from city leaders for a potential NBA return.
Seattle is ready to welcome the Sonics home,” Wilson said. “We never stopped being a basketball city, and the fans have never given up. You see it in our parks, in our schools, in packed gyms in every neighborhood, and in our Seattle Storm championships. We built a world-class arena. We have a strong economy and a dedicated workforce. We are prepared, we are united, and we are ready for the next chapter of our Sonics.