Candace Parker & Billionaire Threaten LeBron James’ Vegas Dream as NBA Teams Eye $300M Jackpot

It’s been about four years since the idea of expansion teams first surfaced in the NBA. The commissioner, Adam Silver, sees a lot of interest, not only externally but also from people within the league. For instance, LeBron James and Shaquille O’Neal have shown interest in bidding for the upcoming expansion teams. Now, one of them includes a Las Vegas-based team. King James along with Fenway Sports Group seem the readiest to bid on the new franchise that will be worth a fortune. However, it wouldn’t be that easy.

According to Brian Windhorst, however, former Bucks‘ owner, Marc Lasry along with former WNBA player, Candace Parker, and other key individuals are forming a group that will also bid for the Las Vegas expansion team. Is this a concerning threat to LeBron James’ ambitions? At the end of the day, the kingpin has shown interest in owning an NBA franchise!

However, there are a few things to consider.

The price of these new franchises isn’t clear. Moreover, looking at the teams’ valuations, the new sides could bring in a combined $10 billion paycheck for the NBA, Windhorst added in his latest FAQ. This will also add $300 million to the other owners’ pockets. Regardless, the bidding war between LeBron James and others will call for billions of dollars, with the Las Vegas team holding the biggest valuation. And why wouldn’t it? It’s the Sin City! The team will attract a major audience and sold-out arenas.

Not only that, but the NBA hosts its Summer League games in Vegas along with a few of its In-Season Tournament games. On the other hand, Seattle can also be an optimal option for LeBron James. Now, according to Windhorst, the league couldn’t think of a return to Seattle because of a new home arena. However, in 2021, Climate Pledge Arena reopened after its renovation for the NHL’s Kraken and WNBA’s Storm, which set the tone for the Association to consider adding a new version of the Sonics to its list!

While Candace Parker will be part of the group that includes former owners, where does the King stand?

LeBron James will bid alongside Fenway Sports Group and Redbird, amidst one BIG problem anticipated by a key individual

“We’re looking at bringing an NBA expansion team (to Vegas) in partnership with LeBron and Fenway Sports Group. We started this project three years ago,” said the founder of the Redbird Capital Partners, Gerry Cardinale. This project, on the other hand, will be spearheaded by the hoops legend cum businessman and Redbird, both being partners with FSG. However, with the growing valuation of the expansion teams, Cardinale believes that the luxury high costs might interfere with the project.

USA Today via Reuters

“The price talk on an NBA team three years ago was $3 billion. The price talk today on an NBA expansion team is $5.5 billion to $6 billion. I’m not sure I can make that work,” Redbird’s founder added. There is no doubt that NBA teams have seen a spike in valuation. The Timberwolves are a great example. In 2021, the Minnesota side was valued at around $1.5 billion. 3 years later, the valuation has doubled to over $3 billion, crediting their on-court success spearheaded by Anthony Edwards.