Las Vegas NBA Team Set to Be Most Expensive US Sports Franchise.

Las Vegas is expected to be granted an NBA expansion team, leading to a highly competitive and expensive bidding war. Potential suitors include LeBron James, the company that owns Red Bull, and various investor groups. The total cost, including building a new arena, could reach $7 billion. Las Vegas is seen as a major tourist destination and a booming sports town, making an NBA franchise highly desirable. The NBA is also considering adding a team in Seattle. The Vegas team appears to be up for grabs, while the ownership group of Seattle's NHL team is favored to get an NBA franchise if it lands in Seattle. The $7 billion price tag would surpass the current record of $6.05 billion paid for the NFL's Washington Commanders and their stadium. The cost will depend on where the Las Vegas team plays, as owning a stadium and developing surrounding real estate is becoming increasingly popular. The sale of the Boston Celtics and the success of the MLB's Athletics relocation to Las Vegas could also impact pricing. Various groups are competing for real estate in Las Vegas, with proposals for multi-billion dollar projects centered around an NBA arena. LeBron James, Shaquille O'Neal, and Red Bull GmbH are among the interested parties. Once the NBA officially announces the expansion process, more investor groups are expected to join the competition. [Extracted from the article]