LeBron James among bidders for $7 billion Las Vegas NBA expansion team

Omokolade Ajayi -

Key Point

  • LeBron James, first active NBA billionaire, joins the $7 billion bid for Las Vegas expansion team.
  • James’ net worth surged to $1.5 billion this year, aided by a $104 million contract with the Los Angeles Lakers.
  • His new deal allows him to play alongside his son, Bronny, fulfilling a long-held dream as his career earnings surpass $530 million.

After his net worth surged above $1.5 billion earlier this month, LeBron James, the iconic NBA superstar who became the league’s first active billionaire player in June 2022, is reportedly among bidders for the $7 billion Las Vegas expansion team bid.

James, who has cemented his position among the richest Black individuals, is eyeing the Las Vegas NBA expansion franchise, set to be the most competitive and expensive sports deal in U.S. history. The bidding war for the team, expected to be granted to Las Vegas, involves numerous high-profile contenders, including the company that owns the Red Bull brand.

According to sources familiar with the deal, the total price tag, including the construction of a new arena, could reach $7 billion. This estimate comes from two sports advisers who have previously facilitated the sale of NBA teams.

Recent financial milestones

The development comes after LeBron James saw his net worth increase by $500 million this year, reaching an impressive $1.5 billion. This milestone reinforces his status as one of the world’s richest Black billionaires and the only active billionaire in the NBA.

This boost follows a significant deal with the Los Angeles Lakers. James and the Lakers agreed to a two-year, $104 million contract that includes a no-trade clause. The contract, the maximum the Lakers could offer, will keep James with the team until he is 41 if he completes the term. 

With this new deal, James’ career on-court earnings are projected to surpass $530 million in 2025, making him the first NBA player to exceed $500 million in career earnings.

Achieving long-held dreams

The new contract also allows James to fulfill a long-held dream of playing alongside his son, Bronny James Jr. The younger James, 19, was recently drafted by the Lakers and has agreed to a four-year, $7.9 million contract. LeBron James, entering his 22nd NBA season, continues to perform at a high level, averaging 25.7 points per game last year.

Despite nearing the twilight of his NBA career, James remains a prominent figure in sports and business. In 2024, he claimed the top spot among Black athletes, earning $128.2 million over the past year. According to Forbes, his earnings include $48.2 million from on-court activities and $80 million from off-court ventures, such as sponsorships and investments.

Looking beyond his NBA career, James signed a deal with DraftKings in January and invested in the PGA Tour. In 2022, he sold a minority stake in SpringHill, valuing the company at $725 million, boosting his net worth to $850 million at the time.