Almost a decade ago, LeBron James was already planning what his retirement would look like. Unlike those who completely walk away from the game of basketball, he knew his ultimate goal would be to own an NBA team. A few years down the road, he confirmed he would like it to be in the growing sports market, Las Vegas. With the NBA expansion putting teams in both Las Vegas and Seattle, he could very well achieve his dream. But three months ago, his stance changed.

His business partner since 2011, Fenway Sports Group, took itself out of the conversation of owning a team. As such, Bron’s take also switched. “Not at all,” he said when asked about NBA ownership. But with the Lakers out of the postseason and a comeback for a historic 24th season very much in doubt, the questions around his post-retirement footprint are growing. And his former teammate J.R. Smith believes he could very well replicate Michael Jordan’s path.

“I mean selfishly for me, I think he has to do something in the game,” Smith stated during FanDuel’s Run It Back. “He’s too large and too important to the game of basketball to where he just fades to black. I think he’s definitely looking in the ownership role.

“I think his mind is so brilliant to where it just goes to building a team, as far as the players, the coaches, the trainers. I think he has the mind to really do that and figure out how to create an ecosystem of winning and positivity as far as an organization.”

As a billionaire athlete, there is no doubt that James has business acumen. He has some of the best investments and endorsement deals that have helped him become a global icon. As a player, there is no doubt that he is one of the most influential names in the league. His leaving the NBA completely would not be great for the league.

Since he’s close to LeBron — so close that James got emotional over Smith’s recent college graduation — and is echoing what many others in James’ circle have felt, it feels perfect that the twilight of Bron’s career comes during the league’s expansion phase.

Moreover, he once even confirmed his interest in wanting to own an NBA team. While a lot has happened since, it would be really interesting to see if James ends up being part of an ownership group for either of the two new teams.

While James remains active on the court with the Lakers, league bylaws strictly prohibit active players from holding ownership stakes in NBA franchises. However, the timing of Smith’s comments reflects how the league progresses in parallel to LeBron’s career.

The NBA expansion landscape is not favorable for LeBron James

The NBA is not just marching toward a 32-team league. Adam Silver has actively been building partnerships for an NBA Europe league. The NBA Board of Governors officially voted to bring two franchises to Seattle and Las Vegas. Commissioner Adam Silver noted that the league’s goal is to definitively outline the parameters of the expansion process, with an eye toward having new teams operational by the 2028–29 season.

The projected entry fees for these new franchises are expected to command a staggering $7 billion to $10 billion market valuation per team. These valuations exceed the existing biggest franchises like the Boston Celtics, Golden State Warriors, and even the Los Angeles Lakers, which was sold for $10 billion to Mark Walters in 2025.

LeBron James had publicly stated on The Shop that he wanted to own the Vegas team. This was four years ago, though, and that stance changed when the NBA announced the valuation for the new teams.

In March, after the Lakers beat the Rockets, reporters asked Bron if he was still interested in owning the Vegas team. His answer was clear:

“Not at all.”

Now, if he had given even a vague yes, it would be enough to speculate he’s retiring after this season to pull a Jordan in time for the new teams’ 2028 debut. But it’s not LeBron if he doesn’t keep us on our toes about his decisions.

Many feel that aspiring players-to-owners would find the Jordan blueprint cheaper. Because Michael Jordan didn’t get a brand new team. The North Carolina native brought a minority stake in the erstwhile Bobcats in 2006 and steadily became the majority owner by 2010 with a $275 million stake — a drop in the bucket for the man who makes double that in annual royalties from the Jumpman logo on Air Jordans. By the time he sold his stake in the renamed Hornets in 2023, he had grown his investment to $3 billion.

The entry fees that are equivalent to a historic, 18-bannered franchise like the Celtics’ sale price are extremely staggering. Even Shaquille O’Neal, who wanted to own a Vegas franchise, wouldn’t be able to build up an ownership group from scratch to raise that much capital.

James’ influence on the game of basketball has been there for over two decades now. While he is in the twilight of his career, it is difficult to imagine a league without his presence, on the court or as a team owner. If it does happen, the league should probably get involved and try to keep James in the league in some capacity because of how well he knows the game of basketball.