NBA Backs Expanding to Seattle, Vegas; Sees $10 Billion Fee

NBA owners voted to explore adding franchises in Las Vegas and Seattle, which would mark the league’s first expansion in two decades and set up a battle to acquire pro teams at a time of surging valuations.

“We owe it to these markets to be transparent, to be more formal in our approach so that everybody feels like they have a fair shot,” NBA Commissioner Adam Silver said at press conference on Wednesday. “The market will determine the value of this team, and then we will decide whether that makes sense to move forward, but I anticipate robust interest.”