Los Angeles Lakers All-Star LeBron James isn’t part of a group bidding for an NBA expansion franchise in Las Vegas.
“No, I’m not. Not at all,” James told ESPN’s Tim MacMahon following Wednesday’s 124-116 victory over the Houston Rockets.
James’ assertion comes hours after a report suggested his chances of becoming a part-owner of a Las Vegas franchise were diminishing, according to The Athletic’s Joe Vardon and Mike Vorkunov.
James has publicly expressed interest in owning a team in Las Vegas as early as four years ago. However, the possibility now seems less likely, as Fenway Sports Group reportedly refuses to pay the expansion fees, which could reach $8 billion.
FSG and James have been business partners since 2011. The group also owns the Boston Red Sox and reigning Premier League champions Liverpool. FSG was expected to be James’ primary financial backer in the pursuit of an expansion team, Vardon and Vorkunov add.
“With Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team,” a source close to James told The Athletic.
James’ net worth is estimated at $1.4 billion by Forbes. The 41-year-old would need to retire from the NBA before joining an ownership group, and he’s currently undecided about whether he’ll play next season. The NBA is targeting fall 2028 for the launch of the two expansion teams, pending league approval, with Las Vegas and Seattle the presumed favorites to land the franchises.
“Why do I want to own a team? I think it’ll be cool. I’ll stay part of the game and still be able to put people in positions of power,” James told The Athletic in 2017. “I’ve always loved that, putting people in a position of power to feel like they can make a change and make things happen.”
James doubled down on those comments in 2022 on his show “The Shop,” saying, “I want a team in Vegas. I want the team in Vegas.”
FSG was founded by Red Sox owner John Henry. RedBird Capital purchased a share of the group in 2021 and valued the company at $7.35 billion. James owns a 1% stake in FSG.
The NBA’s board of governors will reportedly vote on whether to explore adding expansion franchises in Las Vegas and Seattle during meetings scheduled for March 24-25. Approval would require support from 23 of the league’s 30 governors.
You can view the original article HERE.
