Fenway Sports Group is not currently pursuing an NBA expansion bid in Las Vegas, a move that could impact LeBron James and his long-discussed ownership ambitions.
According to The Athletic, Fenway’s decision lowers the likelihood of James entering the race for a potential franchise. A source close to the star noted, “with Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team.”
JUST IN: Fenway Sports Group, LeBron James’ business partner, is not currently interested in pursuing an NBA expansion opportunity in Vegas, sources told The Athletic.
A source close to James said “with Fenway no longer pursuing NBA ownership, it is less likely that LeBron will… pic.twitter.com/3m8P9795E0
— The Athletic (@TheAthletic) March 19, 2026
The update comes as the NBA prepares for a key vote during its Board of Governors meetings on March 24-25. League officials are expected to consider expansion plans focused on Las Vegas and Seattle, with new teams potentially launching in the 2028-29 season.
Industry projections suggest franchise bids could range between $7 billion and $10 billion each. The initial vote would allow the league to formally explore the sales process, with a final decision expected later in the year if financial thresholds are met. Approval requires at least 23 of 30 team governors in both voting rounds.
The outcome could reshape the league’s future footprint, even as one high-profile ownership group steps away from the opportunity.