Over the past few years, LeBron James has publicly stated that he wants to own an NBA team, preferably an expansion team in Las Vegas. The league could take a major step toward adding two new teams — one in Las Vegas and one in Seattle — on March 25, when team administrators will vote on whether to allow the league to do so.
But now there are some real questions about whether James can realize his dream of team ownership. According to a report from The Athletic’s Dan Woike, James’ holding group is “currently not interested in pursuing the opportunity to own an expansion team.”
“Fenway Sports Group, James’ business partner since 2011 that also owns the Boston Red Sox and Premier League soccer giant Liverpool, is currently not interested in pursuing possible expansion opportunities in Las Vegas,” Woick wrote. Two sources with direct knowledge of the company’s intentions told The Athletic. One of the sources, who was not authorized to speak publicly on Fenway’s behalf, said the global sports investment firm gave up on NBA ownership in Las Vegas due to expected costs — the league was reportedly seeking as much as $8 billion per team for expansion.
“FSG has long been considered a major financial backer of James’ desire to become an NBA team owner, and as such, a source close to James said, ‘With Fenway no longer pursuing NBA ownership, LeBron is less likely to pursue a team.'”
Obviously, James simply does not have enough wealth to realize his dream.
“James, 41, who remains the star player for the Los Angeles Lakers as of Wednesday, is worth $1.4 billion, according to Forbes. But his personal worth isn’t enough to pay for expansion, and he always needed to join a team of investors to realize his bid.”
The NBA is looking for two expansion teams to begin play in the 2028-29 season, which means that if James finds enough funds, he will have to end his playing career before then to become a team owner.
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Entering Wednesday’s game against the Houston Rockets, the four-time MVP is averaging 21.2 points, 5.7 rebounds and 6.9 assists while shooting 50.6 percent from the field. His current contract with the Los Angeles Lakers expires at the end of this season.
This article originally appeared on LeBron Wire: LeBron James’ dream of owning NBA franchise hits roadblock