Red Bull is seriously considering the possibility of launching a new NBA franchise, based in Las Vegas. The company will face stiff competition, including renowned players like Shaquille O’Neal and LeBron James.
This information was released by Bloomberg, which stated that internal deliberations remain in the early stages.
Values for entry into a franchise in the NBA
The estimated entry price is approximately US$4 billion. This value is significant considering the last three NBA teams were sold for $3 billion or more.
If any of the interested parties decides to make an offer, approval from the NBA will need to be obtained. The league, which has had 30 teams since 2004 when Charlotte joined, is open to further expansion.
In addition to the ‘gaming and casino capital of the world’, other cities such as Seattle and Mexico City are being considered for new franchises.
Adam Silver, NBA commissioner, mentioned the possibility of expanding to these locations. “There has been some discussion about a Seattle return to the league, it is a potential thing. We also have Las Vegas, they are very interested in getting an NBA team. Finally, Mexico City is also a future option.
But it’s not just them, several other cities approached us to host a franchise. We have many interested parties. And I’m talking about the US and Canada,” said Silver.
The city of Las Vegas has been making efforts to attract more teams, seeking to increase its attractiveness as a tourist destination for both gambling and sports enthusiasts.
“It is not determined that we will expand this time. But I know there is a huge interest behind it. And to me, yes, there are wealthy people and institutions that would like to invest and buy NBA teams. But I think we have to look at the issue of dilution,” Silver added.
Red Bull in other sports
Red Bull already has a significant presence in American sports, with a team in Major League Soccer (MLS), the New York Red Bulls.
In addition, the company controls several football teams around the world, including Red Bull Bragantino (Brazil), Red Bull Salzburg (Austria), RB Leipzig (Germany) and recently acquired shares in Leeds United (England).
In motor sports, Red Bull has two Formula 1 teams and a cycling team, Bora-Hansgrohe.
