NBA expansion news: League asks Las Vegas, Seattle for $2.5M each to curb COVID-19 losses?

Last year, the NBA faced a loss worth billions of dollars due to the COVID-19 pandemic. With the season being held in a bubble, the league's gate revenue was cut off – something which has continued this season. As the COVID-19 crisis continues, the league cannot allow people into arenas. As per reports, this has caused the NBA to consider an expansion – which will bring in billions of dollars. 

Also read | Luka Doncic goes past LeBron James in elite NBA list with triple double vs Rockets

NBA expansion: How much is the league asking from potential NBA expansion teams?

The NBA is considering adding two expansion franchises to help with COVID financial losses.

Which two cities should get a team?

— Legion Hoops (@LegionHoops) January 5, 2021

With the league moving forward with their 2020-21 season, reports speak about an expansion. To help teams deal with COVID-19 losses, the league is considering the move, apparently asking for $2.5 billion from each team. Reports also mention that with the $2.5 billion price, the current 30 teams will receive $167 million each.

As of now, cities like Las Vegas and Seattle have been mention. The latter has already been a part of the NBA as the Seattle SuperSonics – who won three conference titles and the 1979 NBA title before relocating to Oklahoma City (2008). For years, fans have been constantly hoping for a new NBA team, especially one in Seattle. 

Last month, NBA commissioner Adam Silver also spoke about a possible expansion. "I think I've always said that it's sort of the manifest destiny of the league that you expand at some point," he said. He spoke about the pandemic causing them to "dust off some of the analyses on the economic and competitive impacts of expansion". However, the plan is not yet on the "front burner".

While expansion could be exciting for the league, many have expressed concern over a lot of things needing to be altered. This includes everything from the Draft, current players and additional events like the All-Star games. Though an NBA expansion might help teams, COVID-19 might not help the situation. 

Additionally, players will no benefit from the $2.5 billion. 

Also read | NBA 2K21 1.07 update patch notes make visual change to The Park

NBA expansion draft

For the first time since 2004 (Charlotte Hornets), there could be an NBA expansion draft. Fans were excited about the new step for the league, some looking forward to Seattle having a team again. Many even joked about the situation, stating that teams like the Clippers should move to Seattle. 

Twitter users also discussed Vegas as an option, which is mostly a tourist spot. However, the city may look for another league as they are already a part of the NHL (Vegas Golden Knights) and the NFL (Las Vegas Raiders). 

Also read | NBA tells teams that rules on mask-wearing will get tougher

Timberwolves sale

Around six months ago, it was reported that Glen Taylor wanted to sell the Minnesota Timberwolves. Reports are hinting at Daniel Straus as a potential new owner, who is in talks with Taylor about the team.  Timberwolves star Kevin Garnett was also a potential buyer. There were also rumours about the team's relocation, which have been denied by Taylor. 

Also read | Minnesota Timberwolves sale: How much is the NBA team worth?

(Image credits: AP)