Over the past few years, player agent Rich Paul has seen his influence grow. Many believe that his work at Klutch Sports has led him to become one of the most influential figures in the NBA, including handling Los Angeles Lakers superstar LeBron James.
Rumors even surfaced that Paul and James are planning to purchase an expansion team in Las Vegas if approved by the NBA. Las Vegas has often been mentioned as a possible destination for the league's 31st team due to its sports market and economic feasibility.
However, Paul flatly denied this on his podcast, "Game Over."
Paul said, "I don't know where any truth or merit comes from in that. But what I would say to understand the importance of buying a team is, one, I don't have enough money to buy a team, I really don't."
"Today, at least last time I checked, I would have needed to pretty much zero in on what I saw. Still, no. But I would say when thinking about buying a team, and I think you mentioned Vegas, this is not a team I would want to buy."
According to Forbes, 45-year-old Paul has a net worth of $120 million. When his co-host, Max Kellerman, asked why he did not envision forming a team in Sin City, Paul claimed "There's no point in it."
Paul said, "If you're buying a team, it's a huge asset. You want the opportunity for growth, and when I look at buying a team and most teams, people say they lose money."
"If I owned a team, I would be one of those owners who wouldn't mind paying taxes because paying taxes means you're making a valiant effort to win every year."
Currently, the average value of a franchise in the NBA is approximately $4 billion to $5 billion.
The NBA has held the Summer League in Las Vegas for the past several years and experts believe it is ripe for expansion. Las Vegas already has a team in the WNBA, NFL and NHL.
Even if Paul isn't interested, there are certainly other wealthy people willing to take a bet on starting a team in Las Vegas.
