Sports
Las Vegas NBA Team Set to Be Most Expensive US Sports Franchise
- Cost of expansion fee and stadium could approach $7 billion
- LeBron James and owners of Red Bull brand said to be suitors
Once the NBA officially announces the expansion process, more investor groups are expected to join the fray.
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The looming bidding war for the NBA expansion team expected to be granted to Las Vegas is shaping up to be the most competitive and expensive sports deal in US history.
The list of potential suitors spans LeBron James and his backers to the company that owns the Red Bull brand, according to people familiar with the situation. The total price tag including building a new arena has the potential to hit $7 billion, according to two sports advisers who have previously sold NBA teams.