LAS VEGAS — NBA Commissioner Adam Silver said Tuesday that the league office has been tasked with exploring expansion, but stopped short of defining a specific timeline.
“I think there is a significant step now that we’re now engaging in this in-depth analysis, something we weren’t prepared to do before,” said Silver in response to a question about a defined timeline. “But beyond that, it’s really day one of that meant of that analysis.”
“There was a consensus quickly formed that the league office should do the work and work with these particular committees and the board and present that analysis,” Silver added.
Silver previously said he believed the Board of Governors would urge his office to continue exploring expansion and had often mentioned Seattle and Las Vegas as top cities.
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The Sonics left Seattle in 2008, after owner Clay Bennett agreed to pay the city $45 million to escape from the KeyArena lease. The Oklahoma City Thunder, fresh off an NBA championship, are now believed to be worth $3 billion.
In 2013, the NBA rejected the Sacramento Kings’ proposed move to Seattle after a purchase agreement involving Steve Ballmer for the Kings franchise. Sacramento then built a new arena.
Ballmer bought the Los Angeles Clippers a year later for $2 billion and built his own arena for that franchise.
It is believed that a new expansion would fetch the league at least $5 billion per franchise, which would be distributed amongst the owners.