“The appetite in the room I would define more as curiosity and more ‘Let’s do the work,’” said Adam Silver, when asked if NBA owners were hungry for expansion. In classic commissioner fashion, it was a diplomatic way of saying: expansion isn’t off the table — it’s just not on the menu yet.

Still, the smoke keeps getting thicker. Rumors of the NBA adding one or two new franchises have been swirling for years, but they hit a new level after the league inked its massive 11-year, $76 billion media rights deal with ESPN, ABC, NBC Universal, and Amazon. With that kind of money pouring in, the conversation isn’t if, it’s when.

But expansion isn’t just about planting new flags. It’s a high-stakes puzzle with major ripple effects — from how existing teams are valued, to how the talent pool gets divided, to what a new revenue-sharing model might look like. And before high-profile names like LeBron James or Stephen Curry can even think about owning a team, the league has to iron out those details behind the scenes.

According to a recent report by Spotrac reporter Keith Smith, an Eastern Conference GM gave his thoughts on this potential change. He stated, “It’s been a pretty open secret that we’re going to expand. My guess is that it will be here (Las Vegas) and Seattle, but that’s just a guess. They seem to be the best candidates. I have no idea how the league will rebalance the conferences. One team moving to the East makes sense, but maybe they blow it all up and relook at the entire conference structure?”

The location of both Las Vegas and Seattle means that both teams would land in the Western Conference. This means an unequal division would take place, since 15 squads would be in the East, and 17 in the West. Since Las Vegas and Seattle have been hyped up for over a year now, an existing team will have to make the sacrifice and shift to another city.

How will this affect Stephen Curry and LeBron James?

Well, it is no secret that the Golden State Warriors star wants to one day follow in Michael Jordan’s footsteps and own an NBA franchise. In fact, back in June 2025, he brought up Jordan and said, “He might be the only one in our generation who has sat in that seat and done it that way. The idea of being a part of an ownership group and the right opportunity that allows me to have an impact on how a franchise should be operated — how you’re going after true winning, like we’ve done here with the Warriors — that’s something I’m excited about pursuing. It’s interesting. Obviously, as an active player, you can’t participate in that level until you’re done. So you’ll see me in the seat somewhere down the road.”

Meanwhile, LeBron James has also not been hiding his desire a secret. His eyes are dead set on Las Vegas, since he once revealed back in October 2022 that “I would love to bring a team here at some point, that would be amazing. It’s the best fan base in the world and I would love to bring a team here… I want a team here Adam, thank you”. The Las Vegas Aces, Las Vegas Golden Knights, the Las Vegas Raiders, and even the Las Vegas Grand Prix have shown the impact of a sports team in Sin City. Plus, LeBron might have also noticed the rise in sports gambling, and wants to secure those sponsorships by having the Las Vegas tag on his team.

Buying an NBA team is expensive work. According to CNBC Sports’ official 2025 valuations, the average league team is worth $4.66 billion. LeBron James has an edge, boasting a $1.2 billion net worth and an ownership stake with Fenway Sports Group, which owns the Boston Red Sox and Liverpool F.C. Meanwhile, Stephen Curry himself has admitted that he might not be able to afford majority ownership due to rising NBA valuations. After all, his current net worth stands at $156 million. In time, however, both NBA stars can boast of their teams. That is, only if they account for the changes that will occur due to the expansion.

Despite the competition, LeBron James is primed to own the Las Vegas Expansion team. However, his plans could get easily spoiled if, in the end, the league does not choose to go through with their plans. After all, the existing owners themselves aren’t too happy about it.

NBA Insiders reveal lack of enthusiasm for NBA Expansion Among Owners: “cut of the financial pie”

‘The Athletic’ reporters David Aldridge and Mike Vorkunov published a report earlier this month. The same contained updated details of a potential expansion.  Multiple senior team officials reportedly informed NBA insiders that there isn’t “overwhelming momentum” amongst the NBA Board of Governors. You would think that the 11-year, $76 billion media rights deal would make a case for why the NBA needs to expand, right? Well, as it turns out, the deal was the central reason behind the reluctance.

“Several owners would, at present, rather begin collecting and splitting the massive new revenues among the existing teams, rather than bringing in new partners that would also receive a cut of the financial pie,” wrote David Aldridge and Mike Vorkunov.

With the new media rights deal, team owners are set to see an increase in their annual revenue. Having teams in Las Vegas and Seattle could benefit the other teams, as they get the exposure from two new city-based fanbases. However, in the grand scheme of things, the Las Vegas and Seattle franchises would also take the money and attention from them.

Adam Silver realizes this. This is why, after the report was published, he stated that “For every team you add, you’re diluting the economics of the current league. There’s no question that those purchase prices have an impact on any economic analysis of teams, so it doesn’t necessarily complicate it more, but it certainly is an indication of value”.