The Los Angeles Lakers' LeBron James is not part of any group bidding for an NBA expansion team in Las Vegas. The rumors arose when James's Fenway Sports Group was initially reported to be considering a bid for a Las Vegas expansion team. The city, along with Seattle, has emerged as a leading candidate for one of two new NBA franchises.
Although FSG has rejected an extension that is reportedly set to cost up to $8 billion per team, James has publicly stated that he is not part of any group bidding for a Las Vegas team, according to a post on X by ESPN's Tim McMahon.
"No, I'm not. Not at all," James said.
LeBron, who has a net worth of more than $1.4 billion, will undoubtedly need a team of investors to take charge of an NBA franchise. However, with FSG reportedly backing out, it is now considered "less likely" that LeBron will pursue franchise ownership.
Regardless, as things stand, the NBA Board of Governors is continuing discussions, with a formal decision expected in 2026 and a potential launch timeline of the 2028-29 season. Las Vegas has emerged as a primary expansion market due to its established presence in major professional sports.
The city currently hosts teams in the NFL, NHL and WNBA, with an MLB franchise set to relocate there. The NBA has also had a consistent presence in Las Vegas through its Summer League, which has drawn more than 136,000 fans over 11 days.
Of course, LeBron James and FSG are no strangers to owning major sports teams. James's association with the group has given him partial ownership in several franchises such as the Boston Red Sox (MLB), Liverpool FC (Premier League), RFK Racing (NASCAR), and the New England Sports Network (NESN).
The Lakers superstar and his partner Maverick Carter previously became partners in the group in 2021. However, James' ambitions of owning an NBA franchise currently appear to be on hold, due to FSG reportedly refusing to meet the asking price.
