It appears that the NBA is stirring up something for the near future. According to many sources, the association plans to expand its roster of teams. Prominent league insider Adrian Wojnarowski recently announced on ESPN's "NBA Today" that teams from Las Vegas and Seattle will likely join the mix after the 2023-24 season:
“I've been told that once the league gets done with these media rights negotiations, the league will start to look toward expansion," Wojnarowski said. "Certainly Las Vegas, along with Seattle.”
Before the association turns its attention to expanding the league, it first needs to secure a potential media deal worth an estimated $75 billion this coming season.
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It makes sense for the league to invest in teams in Las Vegas and Seattle. Firstly, the OKC Thunder was formerly the Seattle Supersonics. It could be a possibility that the Supersonics make its return to the association. As for Las Vegas, many NBA events have been held there which gives management all the more reason to consider expanding its lineup of teams in that city.
Is there potential for the NBA's In-Season Tournament to become a lucrative media rights opportunity?
The highly-anticipated negotiations concerning NBA media rights have taken an intriguing turn with the introduction of the new In-Season Tournament. Commencing in the 2023-24 season, the association will introduce an annual competition involving all 30 teams. The first tournament is set to begin on November 3, culminating in the Championship Game on December 9 in Las Vegas.
Details about the television coverage for the inaugural tournament, which includes the first and second editions, won't be disclosed until August for the first season and the 2024-25 season for the second. However, the association has confirmed that media rights for the tournament will be part of the upcoming rights negotiations. The incumbent rights holders include Walt Disney Co.'s ABC/ESPN and Warner Bros. Discovery’s TNT.
The association is reportedly seeking to obtain a substantial sum ranging from $50 billion to $75 billion for its upcoming long-term media rights deal. This marks a substantial increase compared to their current arrangement, which amounts to $24 billion, paying out $2.6 billion on an annual basis.