NBA finalizes media rights deal, time for expansion!?
Jul 17, 2024 4:45:27 GMT -5
on_the_edge and paul like this
Post by Vegas on Jul 17, 2024 4:45:27 GMT -5
the NBA Summer League is currently taking place here in Las Vegas where yesterday NBA Commissioner Adam Silver says the league will look at expansion this Fall (this article is from the local LVRJ:)
Adam Silver says NBA will explore expansion this year
NBA commissioner Adam Silver said the league will begin to explore this year if expansion makes sense.
With the NBA close to finalizing a reported $76 billion media rights deal and a new collective bargaining agreement in place, expansion is the next topic the league will focus on.
“We’re not quite done with our media deals yet, but once we are we will turn to consideration around expansion,” Silver said Tuesday at a news conference during the Summer League at the Thomas & Mack Center.
The process that will determine if the NBA adds new teams is more complicated than it’s suggested, Silver said. For instance, if the league brings in new teams, the payments each team will receive from the new media rights deal will be diluted.
“Sometimes it seems as if we’re printing money when we expand, but it’s actually no different than selling equity in any business,” Silver said. “So I think there needs to be a fair amount of modeling with the league office working with existing owners really thinking through the long-term prospects, again, not just economically but also for the potential for the delusion of talent. But having said that, I think we will engage this fall in earnest in the process of making those determinations of should we expand and if we were to expand, how many teams should we expand and what markets should we look at.”
Silver has mentioned Las Vegas and Seattle as potential expansion markets, with Las Vegas having a number of aspects in its favor.
Two groups are looking to build an NBA-ready arena — the Oak View Group on Las Vegas Boulevard south of the Strip and LVXP on the north Strip. Both projects have preliminary plans to build a sports facility paired with a resort.
Having multiple possible venues for the league would be a plus in the expansion process.
“The availability of first-class arenas plays a big role in making those determinations with expansion,” Silver said. “We have not engaged in any direct conversations with either property owners here or those who are considering buying arenas — with the exception of to the extent that groups that are looking at arenas have asked the league office for specs on what makes an arena NBA-ready.”
There is also no shortage of those who have interest in owning a potential franchise, with LeBron James and part-time Las Vegas resident Shaquille O’Neal at the forefront.
“It’s wonderful to have all of that interest in this market, and we’ve taken note of who says if we do turn to expansion that they’d like to be part of the process,” Silver said. “But as I said earlier, it’s not time yet.”
With the 20th year of the NBA Summer League taking place at UNLV and the NBA Cup set to return to T-Mobile Arena in December, Silver said he’s excited about continuing the league’s relationship with Southern Nevada.
“Now in the 20th year of the Summer League, we’ve estimated and been told that the economic impact is close to a quarter of a billion dollars,” Silver said. “We really appreciate how Las Vegas has developed in the 20 years we’ve been here, to the point where we can say it is the undisputed entertainment capital of the world. We look forward to doing even more here.”
With the sports world abuzz after last month’s NHL draft at Sphere, many have wondered if other leagues will explore the possibility of hosting their drafts at the immersive venue.
“We’re not looking to travel the draft at the moment, but I did watch the NHL draft on television, and I said it was a truly spectacular experience coming out of the Sphere,” Silver said.
www.reviewjournal.com/sports/basketball/nba-summer-league/adam-silver-says-nba-will-explore-expansion-this-year-3096111/?utm_campaign=widget&utm_medium=latest&utm_source=homepage&utm_term=Adam%20Silver%20says%20NBA%20will%20explore%20expansion%20this%20year
Adam Silver says NBA will explore expansion this year
NBA commissioner Adam Silver said the league will begin to explore this year if expansion makes sense.
With the NBA close to finalizing a reported $76 billion media rights deal and a new collective bargaining agreement in place, expansion is the next topic the league will focus on.
“We’re not quite done with our media deals yet, but once we are we will turn to consideration around expansion,” Silver said Tuesday at a news conference during the Summer League at the Thomas & Mack Center.
The process that will determine if the NBA adds new teams is more complicated than it’s suggested, Silver said. For instance, if the league brings in new teams, the payments each team will receive from the new media rights deal will be diluted.
“Sometimes it seems as if we’re printing money when we expand, but it’s actually no different than selling equity in any business,” Silver said. “So I think there needs to be a fair amount of modeling with the league office working with existing owners really thinking through the long-term prospects, again, not just economically but also for the potential for the delusion of talent. But having said that, I think we will engage this fall in earnest in the process of making those determinations of should we expand and if we were to expand, how many teams should we expand and what markets should we look at.”
Silver has mentioned Las Vegas and Seattle as potential expansion markets, with Las Vegas having a number of aspects in its favor.
Two groups are looking to build an NBA-ready arena — the Oak View Group on Las Vegas Boulevard south of the Strip and LVXP on the north Strip. Both projects have preliminary plans to build a sports facility paired with a resort.
Having multiple possible venues for the league would be a plus in the expansion process.
“The availability of first-class arenas plays a big role in making those determinations with expansion,” Silver said. “We have not engaged in any direct conversations with either property owners here or those who are considering buying arenas — with the exception of to the extent that groups that are looking at arenas have asked the league office for specs on what makes an arena NBA-ready.”
There is also no shortage of those who have interest in owning a potential franchise, with LeBron James and part-time Las Vegas resident Shaquille O’Neal at the forefront.
“It’s wonderful to have all of that interest in this market, and we’ve taken note of who says if we do turn to expansion that they’d like to be part of the process,” Silver said. “But as I said earlier, it’s not time yet.”
With the 20th year of the NBA Summer League taking place at UNLV and the NBA Cup set to return to T-Mobile Arena in December, Silver said he’s excited about continuing the league’s relationship with Southern Nevada.
“Now in the 20th year of the Summer League, we’ve estimated and been told that the economic impact is close to a quarter of a billion dollars,” Silver said. “We really appreciate how Las Vegas has developed in the 20 years we’ve been here, to the point where we can say it is the undisputed entertainment capital of the world. We look forward to doing even more here.”
With the sports world abuzz after last month’s NHL draft at Sphere, many have wondered if other leagues will explore the possibility of hosting their drafts at the immersive venue.
“We’re not looking to travel the draft at the moment, but I did watch the NHL draft on television, and I said it was a truly spectacular experience coming out of the Sphere,” Silver said.
www.reviewjournal.com/sports/basketball/nba-summer-league/adam-silver-says-nba-will-explore-expansion-this-year-3096111/?utm_campaign=widget&utm_medium=latest&utm_source=homepage&utm_term=Adam%20Silver%20says%20NBA%20will%20explore%20expansion%20this%20year
