LeBron James, the iconic Los Angeles Lakers star, has decided against joining an ownership group for a potential NBA expansion team in Las Vegas. This marks a shift from his previous interest in being part of such a venture.
In a straightforward statement, James told ESPN, “No, I’m not. Not at all,” when asked about his current stance on the matter.
Industry insiders, as reported by Shams Charania of ESPN, anticipate that any new NBA expansion franchise could come with a hefty price tag ranging from $7 billion to $10 billion. Despite the steep cost, the allure of expanding the NBA into a vibrant market like Las Vegas has generated considerable buzz.
However, Fenway Sports Group, with whom James has partnered since 2011, is also steering clear of this opportunity. Known for owning the Boston Red Sox and Liverpool FC, Fenway Sports Group’s decision aligns with James’ current disinterest.
At 41, James boasts an impressive net worth of $1.4 billion, according to Forbes. Yet, even his substantial wealth falls short of covering the expected expansion fee on his own, necessitating collaboration with other investors to make such a bid feasible.
James’ illustrious career includes being the NBA’s all-time leader in points and field goals. With stints at the Cleveland Cavaliers, Miami Heat, and Lakers, he’s a four-time MVP, four-time champion, and four-time Finals MVP. His legacy as one of the greatest basketball players ever is firmly established.
As for his playing future, if James opts not to retire this offseason, he might re-sign with the Lakers or make a return to the Cavaliers for a third time. Turning 42 in December, he remains the oldest active player in the league, yet his impact on the court continues to be profound.