Sources: LeBron James’ path to NBA ownership ‘less likely’ as partners pass on expansion bid
Source – Joe Vardon & Mike Vorkunov, Senior NBA Correspondents, The Athletic:
Ten years ago this August, LeBron James first publicly declared his interest in owning an NBA team. And nearly four years ago, he said he wanted his team to be in Las Vegas.
With the league set to take a big step next week toward placing teams in both Las Vegas and Seattle, James’ decade-long dream is dwindling.
Fenway Sports Group, James’ business partner since 2011 that owns both the Boston Red Sox and English Premier League soccer giant Liverpool, is not currently interested in pursuing the likely expansion opportunity in Las Vegas, two sources with direct knowledge of the firm’s intentions told The Athletic. One of those sources, who was not authorized to speak publicly for Fenway, said the global sports investment firm was out on NBA ownership in Las Vegas because of the expected cost — the league is reportedly seeking expansion fees as high as $8 billion per team.