LeBron James’ business ambition is reaching unprecedented heights as he prepares to bid $7 billion to acquire the new NBA expansion team in Las Vegas. The Lakers superstar is actively seeking financial partners to help realize his dream of owning a team once he retires from playing.
After winning a gold medal with the United States at the Olympic Games, LeBron is now focused on the upcoming NBA season. He aims to fulfill another dream: playing alongside his son Bronny in the league. However, LeBron’s long-term vision extends beyond the court. He is under contract with the Lakers for the 2024/25 season, earning $48.7 million. He also holds a player option for 2025/26 worth $52.6 million. With retirement on the horizon, LeBron is already planning for his future.
LeBron James’ business plans involve maintaining a significant presence in the NBA, and he has a clear strategy to achieve this. According to reports from Fortune, the four-time NBA champion is set to bid for one of the new NBA expansion teams. The league is expected to approve the addition of new franchises, and LeBron is targeting the one in Las Vegas.
Bloomberg reports that the bidding war for the Las Vegas franchise is expected to be one of the most competitive and costly sports deals in U.S. history. LeBron James’ business acumen, combined with his influential sponsors, positions him as a strong contender. The total cost, including the construction of a new stadium, could reach around $7 billion. This estimate comes from sports advisors with experience in NBA team sales.
LeBron, who turns 39 this year, has long desired the opportunity to own and govern his own team. However, the right opportunity has only now presented itself. With 20 years of NBA experience, LeBron intends to continue influencing the sport after retiring. He aims to follow in the footsteps of Michael Jordan, who was the majority shareholder of the Charlotte Hornets. For LeBron, Las Vegas offers the best chance to achieve this goal and become an NBA team owner.
Las Vegas, with its population of 656,274, has become one of the most popular hubs in its region. Known worldwide for its casinos, entertainment, and nightlife, the city attracts millions of tourists each year. Historically, Las Vegas had little presence in professional sports. However, that has changed significantly in recent years.
The city is now home to the Golden Knights (NHL), the Raiders (NFL), and the Aces (WNBA). With these successes, Las Vegas has quickly become a rising sports city. The NBA is likely the next major league to capitalize on this momentum. The league has already chosen Las Vegas as the host city for the recently established NBA Cup tournament. Additionally, Team USA has used Las Vegas as a training center for international competitions for years.
The NBA’s expansion plans include adding at least two or three new franchises to the league. Seattle is another likely location, and there’s even potential for a team in Mexico City. However, Las Vegas is seen as the most probable city for expansion, which aligns perfectly with LeBron James’ business aspirations. The NBA is expected to set a minimum price of $6 billion for each new franchise. This fee would be distributed among the existing teams, with each receiving about $400 million if there are two new teams, and slightly more if a third is added.
LeBron James has openly expressed his desire to own an NBA team in Las Vegas in the past. As one of the sport’s most influential figures, it’s likely the NBA would welcome his bid when the time comes to expand. However, the financial challenge is substantial. Although LeBron is already a billionaire, a $7 billion investment requires a group of strong financial partners. He will need to assemble a capable ownership group to pull off this massive deal.
For LeBron, this isn’t just about a financial investment; it’s about cementing his legacy in the NBA. Owning a franchise would allow him to continue shaping the sport he has dominated for two decades. With the right backing and strategic moves, LeBron James’ business venture in acquiring the Las Vegas NBA franchise could redefine his post-playing career and set a new standard for athlete-turned-owner success.
