Amid all of the current NBA franchises being sold at astronomical prices, the cost for potential expansion teams in Las Vegas and Seattle is only going up.
The NBA's expansion process is gaining momentum as the league evaluates potential new franchises in Las Vegas and Seattle, according to sources cited by The Athletic. The league and financial advisory firm PJT Partners recently asked interested bidders to submit preliminary information, including cap-table sketches, investor details and proposed purchase prices. Groups pursuing a Las Vegas franchise face a second, more detailed submission deadline in September, while only one bidding deadline...
The NBA is moving closer to making a decision on expansion, with one important deadline passing recently and another arriving next month, writes Mike Vorkunov of The Athletic. Industry sources tell Vorkunov that the league and PJT Partners, the financial firm hired to advise on expansion exploration, asked bidders who have expressed interest in bringing […]
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