Los Angeles Lakers superstar Lebron James is one of the top contenders to own the planned new NBA team in Las Vegas. However, a former teammate and Lakers great may be one of his competitors.
One of the more under-the-radar stories in the basketball world over the last year is about a new NBA team being created in Las Vegas, Nevada. The city has become a hotbed of professional sports. The WNBA created the Las Vegas Aces. The NFL’s Raiders moved there several years ago, and the Oakland Athletics are set to make a home in the city in a few years.
Unsurprisingly, the NBA is rumored to be eyeing the city for a new team. Be it in an expansion club or a pre-existing franchise moving to the Sin City. With speculation growing over the last year, new billionaire Lebron James made it known last year he wants in on owning the team. On Thursday, Fortune reported an update on the situation and the future Hall-of-Famer seems to be a serious contender.
“The looming bidding war for the NBA expansion team expected to be granted to Las Vegas is shaping up to be the most competitive and expensive sports deal in US history,” the outlet reported. “The list of potential suitors spans LeBron James and his backers to the company that owns the Red Bull brand, according to people familiar with the situation.”
Fortune claims that along with a new arena, the total cost for an NBA team in Las Vegas could be as much as $7 billion.
James is not the only NBA great who has stated publicly he wants to own a franchise. Hall-of-Famer Shaquille O’Neal said last year he would like to buy one of his former teams, the Orlando Magic. If they become available, of course. Yet, it does not seem likely that the former Cavaliers teammates will team up for a purchase. This means they could be on opposing sides in the Las Vegas team sweepstakes.
O’Neal’s net worth from his playing career and various business ventures is believed to be nearly $500 million. James’ net worth is believed to be $1.2 billion.
The report also suggests that MGM CEO Bill Hornbuckle could be a serious contender in talks. His company co-owns the T-Mobile Arena. And the ability to bring a state-of-the-art venue to negotiations would give him a leg up in the chase.
