The Board of Governors will hold its first formal vote on expanding to two new markets, with franchise fees projected to rival the largest sports transactions ever recorded.

The NBA's Board of Governors will hold its first formal vote on expanding to Las Vegas and Seattle at its March 24-25 meeting, with both franchises targeted to begin play in the 2028-29 season - the league's most significant structural shift since Charlotte joined in 2004.

A supermajority of 23 of 30 governors must approve the motion for the process to advance. This first vote would not finalise expansion outright but would confirm Las Vegas and Seattle as the exclusive expansion markets and trigger a formal bidding process. Industry executives project franchise fees in the AU$10.5-15 billion range per team, figures that would rival or surpass the largest sports transaction ever recorded.

Seattle's Long Wait and Las Vegas's Case for a Franchise

Seattle has been without an NBA team since 2008, when the SuperSonics relocated to Oklahoma City. Climate Pledge Arena now houses the NHL's Kraken and the WNBA's Storm, and a return of NBA betting to the Pacific Northwest has remained one of sport's most persistent unresolved storylines for nearly two decades.

Las Vegas has spent that same period establishing itself as a proven major-league market. The NHL's Golden Knights arrived in 2017 and went on to win a Stanley Cup. The WNBA's Aces are three-time champions. Commissioner Adam Silver addressed both cities directly in December while attending the NBA Cup final in Las Vegas: "Not a secret, we're looking at this market in Las Vegas. We are looking at Seattle."

ESPN's Shams Charania reported clear momentum inside the league: "There is momentum within the board of governors and league office to approve moving forward with taking bids for franchises in Las Vegas and Seattle."

Not every owner is ready to vote yes. Some governors are concerned about equity dilution - expanding from 30 to 32 teams shifts each franchise's share of league revenue from 1/30th to 1/32nd - and others want to assess final valuations before committing. A second ratification vote is expected later in 2026, with Silver previously stating a final decision would come before year's end.

Conference Realignment and European Bids Also on the Table

To frame the financial scale: the Los Angeles Lakers sold for approximately AU$15 billion in 2025, the largest transaction in US professional sports history. The Boston Celtics changed hands for around AU$9.1 billion the same year. Expansion fees at the projected AU$10.5-15 billion level would place both new franchises among the most valuable sporting assets on earth, and the NBA projects both markets inside the league's top eight revenue generators from day one. For those looking to understand how team finances shape rosters, the NBA salary cap rules play a crucial role in competitive balance.

Adding two Western Conference clubs also creates a structural puzzle. One existing Western franchise would likely shift to the East to maintain balanced 16-team conferences, with Minnesota, Memphis, and New Orleans identified as the most geographically logical candidates for realignment. This could have significant implications for NBA playoffs betting odds as conference matchups shift.

The March 24-25 meetings will also include an update on European expansion, which is running on a separate and faster timeline. According to multiple reports, Saudi Arabia's Public Investment Fund is preparing a London bid, Qatar Sports Investments - owners of Paris Saint-Germain - is targeting Paris, and RedBird Capital - which controls AC Milan - is pursuing Milan. Binding bids for all European candidate cities must be submitted by March 31, with Silver aiming for European play to begin in October 2027.

The Board of Governors convenes on March 24, and a positive vote would formally open the door to NBA basketball returning to Seattle and arriving in Las Vegas in time for the 2028-29 season.

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