NBA votes to explore Seattle expansion, possible Sonics return
NEW YORK — After one affirmative vote Wednesday, the NBA appears to be on the doorstep of a return to the Emerald City.
The NBA Board of Governors gave the go-ahead for Commissioner Adam Silver to begin holding formal talks with prospective ownership groups in Seattle and Las Vegas, with the possibility of adding two expansion franchises to the league as soon as the 2028-29 season.
Expansion is not a given, and Silver cautioned that during his news conference Wednesday. But he also acknowledge the potential of what bringing back Seattle and the name “SuperSonics” into the NBA portfolio would mean.
“I think part of the issues we’ll be looking at is, will we be putting a team in position to be successful in Seattle?” Silver said. “I see no reason standing here today why that shouldn’t be the case, but we’re going to work through this process.”
The owners’ vote was unanimous in favor of moving forward on the expansion process. It brings the NBA closer than it has ever been to returning to Seattle since the departure of the Sonics for Oklahoma City after the 2008 season.
The decision allows Silver and his staff to go into the marketplace and begin having substantive talks with prospective groups that are interested in bringing franchises to the respective cities.
The league said it has engaged with investment bank PJT Partners, “as a strategic adviser to evaluate prospective markets, ownership groups, arena infrastructure, and the broader economic impacts of expansion.” Silver told any interested ownership groups to reach out to either the league or PJT and start the discussions.
Though there are expected to be two groups vying for Las Vegas, there is only one group that has made its intention known in Seattle to date — One Roof Sports and Entertainment, the Kraken’s umbrella group that was unveiled this week.
One Roof CEO Tod Leiweke said the creation of the umbrella brand was part of the plan to show the NBA it had all its affairs in order.
“We’re ready. There’s not a missing piece,” he said. “There’s not a leap of faith with the owner, with how we’ve conducted ourselves, with this arena. We’re ready.”
The most significant step in the expansion conversation brings an end to five years of wondering if the NBA would finally decide to move forward with this process.
Yet it’s still nowhere near a finish line. Silver said the expectation is to have a final decision before the end of the calendar year, but that still could mean another six or nine months of waiting for a final approval from the Board of Governors.
The league said it has engaged with investment bank PJT Partners, “as a strategic adviser to evaluate prospective markets, ownership groups, arena infrastructure, and the broader economic impacts of expansion.” Silver told any interested ownership groups to reach out to either the league or PJT and start the discussions.
Though there are expected to be two groups vying for Las Vegas, there is only one group that has made its intention known in Seattle to date — One Roof Sports and Entertainment, the Kraken’s umbrella group that was unveiled this week.
One Roof CEO Tod Leiweke said the creation of the umbrella brand was part of the plan to show the NBA it had all its affairs in order.
“We’re ready. There’s not a missing piece,” he said. “There’s not a leap of faith with the owner, with how we’ve conducted ourselves, with this arena. We’re ready.”
The most significant step in the expansion conversation brings an end to five years of wondering if the NBA would finally decide to move forward with this process.
Yet it’s still nowhere near a finish line. Silver said the expectation is to have a final decision before the end of the calendar year, but that still could mean another six or nine months of waiting for a final approval from the Board of Governors.
The news from New York seemed to buoy hopes back home that the long journey regarding the NBA could finally be close to conclusion.
“For two decades, Washingtonians have mourned the loss of our Sonics. Today’s vote is a milestone in the effort to bring NBA basketball back home. The time is right. The state-of-the-art Climate Pledge Arena already hosts professional basketball and hockey with the Storm, Kraken, and Torrent in front of a dedicated fanbase. And we know we have the best fans in the NBA,” Washington Gov. Bob Ferguson said in a statement. Ferguson has held two virtual meetings with Silver in the past month, including one on Monday.
“Seattle can’t wait to welcome our Sonics back home. The city is ready, the fans are ready, the arena is ready, and I could not be more excited about what’s next,” Seattle Mayor Katie Wilson added.
It was a half-decade ago when Silver first mentioned the possibility of expansion. The league was coming out of the COVID-19 pandemic and was forced to finish the previous season playing in a bubble in Florida with no fans in attendance. Revenues were lost. Money needed to be recouped.
But the expansion talks didn’t take that next step until now. The league had a collective bargaining agreement and media-rights deals to get settled. At the same time, franchise valuations were going through the roof with no apparent ceiling. Holding off on deciding whether to expand and what that possible expansion fee might be was the best financial decision to make.
All those issues were solved with a new CBA and a lucrative media-rights deal agreed to nearly two years ago. And now expansion, which if formally approved would put money in the pocket of owners and ultimately return the SuperSonics to Seattle.
The approval vote for Silver to move ahead is the first step. The next would be final approval by the Board of Governors, which could come as soon as the summer owners’ meetings during NBA Summer League in Las Vegas, depending on how quickly the ownership groups are vetted and settled upon.