The NBA is officially preparing to move forward with its expansion plans. Talks around this have been circulating for nearly a decade, but with little to no real traction. The league last expanded in 2004 with the addition of the Charlotte franchise. Now, with Las Vegas and Seattle on the table, the Commissioner could face significant hurdles if the league office and franchises agree with the expansion.

Shams Charania said on Monday’s FirstTake, “So there’s a lot to sift through for owners right now. Because you go from 1/30th share in the league to 1/32nd. But if it makes sense financially, if you can get to that $7 to $10 billion per team range, that could make it enticing.”

NBA owners are finding themselves in a delicate financial puzzle as expansion discussions move forward under Adam Silver. League revenue has climbed sharply from $5.1 billion in 2014 to $11.3 billion in 2023-24. And the 2024-25 season generated about $12.75 billion.

Projections already point to $14.3 billion in 2025-26, fueled by new media deals with ESPN, NBC, and Amazon Prime Video. Meanwhile, the average franchise value has crossed $4 billion, showing how rapidly the league economy is expanding. However, expansion reshapes the ownership equation.

At present, thirty teams split league revenue, and two new franchises would reduce each share from 1/30 to 1/32. Still, the potential windfall changes the debate. Expansion bids between $7 billion and $10 billion per team could deliver enormous upfront payouts.

Therefore, owners now weigh a slightly smaller slice of revenue against the immediate financial jackpot and the promise of a richer long-term league economy.

Adam Silver & Co., and the NBA’s possible expansion

According to Shams Charania, the NBA will take a key step during the March 24- 25 Board of Governors meetings. Owners will vote on whether to begin formally studying expansion in Las Vegas and Seattle, with a target debut in the 2028-29 season.

Early projections place franchise bids between $7 billion and $10 billion each, highlighting massive investor appetite and signaling powerful financial momentum around the league’s first major expansion push in over twenty years. However, that March vote simply opens the door. It authorizes the league to explore ownership pathways and gather bids in both markets.

Later in 2026, governors could hold a second vote to approve expansion if offers meet financial expectations. Both decisions require 23 of 30 owners to agree. Adam Silver deliberately delayed expansion talks until the league secured two pillars. First, a stable collective bargaining agreement. And second, a $76 billion media rights deal with Disney, NBCUniversal, and Amazon.

Silver said in late 2025, “I think Seattle and Las Vegas are two incredible cities. Obviously, we had a team in Seattle that had great success. We have a WNBA team here in Las Vegas, the Aces. We’ve been playing the summer league here for 20 years. We’re playing our Cup games here, so we’re very familiar with this market…”

Now, all eyes would be on the March votes to see which way the needle tilts: expansion agreement or not.