The NBA is officially exploring the possibility of expansion after being tasked by team owners to study the issue. Commissioner Adam Silver emphasized that no decisions have been made yet. Las Vegas and Seattle are leading candidates for new franchises. Economic concerns remain crucial, as adding teams could dilute the financial value of existing franchises. The NBA is experiencing significant financial success, with upcoming media rights deals worth $76 billion and soaring franchise valuations. Recent sales of the Celtics and Lakers further illustrate this trend.
"A lot of analysis still needs to be done and nothing has been predetermined," Silver said. The decision to take a harder look at expansion wasn't totally unexpected, as the notion of adding clubs has been a talking point for several years. Cities like Las Vegas and Seattle -- long perceived to be the front-runners should the NBA decide to expand past its current 30-team footprint -- will surely continue to push to be the eventual picks.
"For every team you add, you're diluting the economics of the current league," Silver said. A new series of media rights deals worth $76 billion kicks in for this coming season, franchise values across the league have soared.
The Celtics are being sold to private equity mogul Bill Chisholm with a valuation of at least $6.1 billion, which was a record until the Buss family agreed to sell the Lakers to businessman Mark Walter -- with a valuation of $10 billion.
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