Lakers star LeBron James has spoken multiple times in the past about his desire to be part of an NBA ownership group after he retires, having specifically named Las Vegas as a market he had his eye on. However, with momentum seemingly growing toward Vegas being awarded an expansion team, James suggested on Wednesday that his enthusiasm about becoming a team owner has dwindled.
Asked by Dan Woike of The Athletic if ownership is still something he’s interested in, James quickly replied, “No, I’m not. Not at all” (Twitter video link via Khobi Price of the California Post).
James’ comments come in the wake of a report indicating that Fenway Sports Group – the sports holding conglomerate that counts LeBron among its partners – won’t be pursuing a team in Vegas due primarily to the exorbitant cost of the anticipated expansion fee.
ESPN’s Shams Charania has reported that the fee for incoming expansion teams will likely be in the $7-10 billion range, while The Athletic cited an estimate of $8 billion.
Of course, James’ brief post-game comments on Wednesday aren’t binding, so it’s not as if he can’t change his mind and become involved with an expansion franchise – or buy into an existing team’s ownership group – down the road. Still, it sounds like it’s no longer part of his future plans for now.
It’s also worth reiterating that active players aren’t permitted to own a stake in an NBA team, and even at age 41, James isn’t looking like a player ready to coast into retirement. In Wednesday’s win over Houston – the Lakers’ seventh consecutive victory – the four-time MVP racked up 30 points on 13-of-14 shooting.
After the game, Rockets star Kevin Durant told reporters that he doesn’t see why his longtime rival couldn’t keep playing for several more seasons beyond this one.
“I think he could play until he’s 45 years old,” Durant said of James (Twitter video link). “I don’t know if he wants to be around that long, but I think he could play for another four to five years, to be honest.”
He’s only saying that because he doesn’t currently have a path to ownership.
To be fair 7 billion dollars for an expansion team pry makes nobody in world interested.
Ghost: exactly that. Once the Lakers valuation was at 10 billion, the NBA took that and ran with it. The suns were just purchased by Ishbia at 4 billion. That’s a much more realistic valuation for an expansion team with zero established IP and branding.
If the reported pricing is true, the NBA is using a cream of the crop franchise sale to artificially inflate team values moving forward (and line the other owners pockets from whoever buys these)
Good points luvhoops.
Institutions run by ego manics will be interested.
He will be taking over his buddies sports Agency. We know he already owns it but nba claims he doesn’t. He wants to become a super agent. He will use his influence to put the others out of business and control NBA salaries of players.
@MrBob
I think you misunderstand exactly the scope of Rich Paul and Klutch. They have a partnership with one of the big 4 talent agencies. United Talent Agency (UTA) is one of the world’s largest and most influential talent and literary agencies, boasting nearly 1,900 to 2,200 employees globally and around 300 agents. Rich is still CEO of Klutch and also Co-Head of UTA’s sports division. Klutch had clients in the nba, wnba, nfl, mlb and soccer. He also reps coaches and influencers. LBJ wouldn’t need to become an agent to influence future clients to sign and if he becomes a partner on paper then I’m sure it’s from an investor capacity. Ppl sleep on how incredible a biz Rich Paul has built.
I don’t misunderstand nothing
Jebron Lames!
Its less than 10 billion plus for Vegas. 15 is not as unreasonable as it sounds. Seattle is 8 – 12.
It’s been $7 to $10 billion
Word is the owners don’t want him in their circle because of his player empowerment mantle.
Just looking to drop “shadow” from his GM role.