What is an NBA expansion team?

An expansion team is a new franchise added to the league, not an existing team relocated from another city.

Las Vegas is an attractive market for sports teams, and the league has shown interest in expanding there.

Bob Iger, Joshua Kushner Explore Bid for NBA Expansion Team in Las Vegas

Q: What is the potential value of the bid?

The value has not been disclosed, but NBA expansion teams typically exceed $1 billion.

Former Walt Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner have hired investment bankers to explore a bid for an NBA expansion team in Las Vegas, people familiar with the matter said.

June 29, 2026

2 min read

Source: Bloomberg

Bob Iger, former CEO of Walt Disney Co. (DIS), and Joshua Kushner, founder of Thrive Capital, are planning to bid for a National Basketball Association expansion team in Las Vegas, according to people familiar with their plans. The duo has engaged investment bankers to advise on the potential acquisition, Bloomberg reported.

Details of the Plan

The financial terms of the potential bid have not been disclosed, but NBA expansion teams typically command valuations exceeding $1 billion. Iger is a prominent figure in the entertainment industry, while Kushner has a background in venture capital and technology investments.

Context

The NBA is looking to expand its footprint, with Las Vegas considered a prime market. The league has expressed interest in adding two new teams in the coming years, with Las Vegas and Seattle seen as leading candidates.

What It Means for Investors

If successful, the bid could boost NBA-related revenues and media rights values, potentially benefiting companies like Disney, which holds broadcast rights through ESPN. However, the process is still in early stages.

Frequently Asked Questions

Bob Iger is the former CEO of Walt Disney, and Joshua Kushner is the founder of Thrive Capital.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.