Overview
- Multiple outlets reported on Monday that Bob Iger and Josh Kushner have engaged investment bankers as they weigh a bid for majority ownership of a potential Las Vegas NBA team through Thrive Eternal.
- The NBA’s board has authorized a formal study of expansion into Las Vegas and Seattle and Commissioner Adam Silver has said the league is targeting a 2028–29 season for any new teams.
- Rival ownership groups are active in Las Vegas, including Bill Foley’s bid to use T‑Mobile Arena and a separate group linked to Magic Johnson, making the field highly competitive.
- Industry reporting has floated an unconfirmed expansion fee in the roughly $7 billion to $10 billion range, a figure that has not been disclosed by the NBA or the potential bidders.
- Thrive Eternal and its backers already have sports investments, such as a stake in the San Francisco Giants, and the league’s Summer League meetings this month and board sessions could produce process updates before a year‑end decision.