The Los Angeles Lakers’ record $12.5 billion sale could have major implications for the cost of a potential NBA expansion franchise in Las Vegas.
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner agreed to purchase the Lakers from Mark Walter less than a year after Walter acquired control of the franchise at a $10 billion valuation.
Iger and Kushner had previously considered pursuing a Las Vegas expansion team before changing direction and buying the Lakers instead.
According to ESPN’s Ramona Shelburne, an expansion fee previously estimated at $6 billion to $8 billion could now approach $10 billion. A Las Vegas ownership group could also need another $2.5 billion to build an arena.
That reportedly influenced Iger and Kushner’s decision. For roughly the same overall cost, they could purchase the Lakers, an established franchise with a global fan base, sponsorships and an existing arena arrangement, instead of building a new organization from the ground up.
The Lakers sale could therefore give the NBA additional leverage when determining expansion fees. However, Las Vegas remains attractive despite its smaller media market, with the city already hosting NBA Summer League and the NBA Cup semifinals and final.
Several potential ownership groups remain interested in bringing an NBA team to Las Vegas, including groups connected to Nancy Walton Laurie, Golden Knights owner Bill Foley and former Suns owner Jerry Colangelo.
Commissioner Adam Silver has said the NBA hopes to determine whether to expand to Las Vegas and Seattle by the end of the year. If approved, new franchises could begin playing as early as the 2028-29 season.
While the Lakers’ $12.5 billion valuation does not guarantee a $10 billion expansion fee, it could significantly increase the price prospective Las Vegas owners will have to pay.
What Lakers $12.5B bombshell sale means for NBA’s Las Vegas expansion team https://t.co/xQhXZbW7gC pic.twitter.com/JLaWG6fugI
— New York Post (@nypost) August 12, 2026
