The NBA’s pending CBA will allow players like LeBron James to invest in NBA/WNBA teams as the Lakers star’s eyes expansion franchise in Las Vegas
The NBA’s pending collective bargaining agreement will reportedly allow active players to invest in NBA and WNBA franchises.
The news, reported by The Athletic’s Shams Charania, comes against the background of LeBron James’ interest in the property.
The NBA’s all-time leading scorer has publicly said he wants to have a team in Las Vegas, and veteran reporter Ric Bucher said last year that he was in the “first position” to land a possible expansion franchise there.
As he explained on his podcast last August, league sources told Bucher that expansion clubs in Las Vegas and Seattle could appear in 2025, after the NBA’s current media contracts expire.
James would be in his 40s at the time, an age when he could still be playing.
LeBron James has publicly expressed his desire to own a team in Las Vegas
Also, his oldest son, Bronny, could be making his NBA debut for the 2024-25 season, or choose to wait a year in hopes of being drafted by an expansion franchise owned by his father.
Examples of active athletes having ownership on a team are few and far between.
Mario Lemieux co-owned the Pittsburgh Penguins while playing for the team after coming out of retirement in 2000, while David Beckham’s MLS deal to join the Galaxy in 2007 included the future option to buy a franchise in the league at a reduced price. (He later exercised the option with the Inter Miami foundation.)
Of course, James is already a partner in Fenway Sports Group, which means he has minority stakes in several professional sports teams through the company, including the MLB’s Boston Red Sox, the NHL’s Pittsburgh Penguins, a NASCAR team and Liverpool FC, which originally invested in 2011.
Meanwhile, the pending CBA will also allow for loosening of the league’s drug testing rules, as players will no longer be tested or banned for marijuana, according to The Athletic.
Players will also be able to invest in and promote gambling and cannabis companies.
LeBron James is seen during a visit to Liverpool’s Anfield stadium in October 2011
Mario Lemiuex bought a piece of the Penguins before deciding he wanted to play again
On the court, there will also be changes.
The seasonal tournament that commissioner Adam Silver has wanted for years will come to fruition, according to a person familiar with the negotiations who spoke to The Associated Press.
Additionally, players will need to appear in at least 65 games to be eligible for major individual awards, such as Most Valuable Player.
The agreement will begin this summer and will last at least until the 2028-29 season.
Either party may opt out; otherwise it will last until 2029-30.