Former Disney CEO Bob Iger and investor Joshua Kushner are reportedly considering a joint venture to bid for an NBA expansion team. This news comes amidst growing interest from various investor groups in securing teams for potential new franchises in Las Vegas and Seattle. The NBA is looking to sell these new teams for as much as $10 billion each.
While no formal bids have been submitted yet, there has been substantial outreach from investors. Early indications suggest that Las Vegas is attracting more interest than Seattle. This burgeoning competition highlights the high demand and significant investment required to secure ownership in the league.
Notably, Vegas Golden Knights owner Bill Foley has already hired Morgan Stanley to advise on his bid to bring an NBA franchise to Las Vegas. Foley's proposed venture includes plans for a dedicated NBA practice and player-health campus, underscoring the scale of investment expected for successful bids.
