LeBron James faces competition in Las Vegas NBA franchise bid with Lakers legend in secret talks

Los Angeles Lakers legend Magic Johnson is in secret advanced talks to bring an NBA franchise to Las Vegas entering a battle against other Lakers greats, LeBron James and Shaquille ONeal .

The bombshell revelation comes from two sources, who say Johnson is weighing his options to bring a team to Sin City with the potential notion of a new state-of-the-art hotel resort, too.

Insiders say that the Hall-of-Famer, who won five NBA championships with the Purple and Gold, is holding discussions with investors about creating a new sports team in the Entertainment Capital of the World or another in Kansas City, Missouri.

Magic's ambitious plans for the Vegas Strip-based project include a potential luxury hotel and entertainment complex.

Some investors are proposing that they create a cutting-edge facility to not just house a team but also host the biggest names in music.

The three-time NBA MVP has many friends in the showbiz world as well as the sports field.

An associate of Magic said: Magic prides himself in being as much of a force in American sport as a notable entrepreneur given his success across many fields of business.

His portfolio expands into many fields.

But having an NBA franchise would be a long-term goal fulfilled, and of course, being Magic, it would have been executed with his own vision and gold standard.

Several investment groups share his vision and are interested in partnering with him offering billions for the project.

Naturally, the draw of that city - with its huge success in recent years in bringing in new sports teams - is a very attractive prospect.

The Las Vegas community has made it clear that they are ready to welcome an NBA franchise, too, which adds to the excitement.

Magic has a long and strong connection and affinity with the city, and friendships with many major movers and shakers there.

Not only do you have huge local loyal support for homegrown teams, but millions of people who travel in from across the States and the world.

It is a real, unique business prospect.

Kansas City is also on the table because there are backers looking to line up in that region, too.

Certainly, the success of the Chiefs in the NFL has raised interest in the city and geographically means a team would have a huge draw of potential fans and opportunity for the Mid-West.

Naturally, Las Vegas would appear to be the front runner at this moment simply because of the expansion of every aspect of business in town.

A second source noted that Magics wider vision goes beyond just an NBA-centered arena.

Look, there are some enormous exciting opportunities for Magic to bring something new, likely closer to downtown Vegas, the source said.

We are talking about more than a basketball arena and team.

Discussions are ongoing about building a luxury hotel, casino and that this arena will actually be a state-of-the-art venue hosting superstar music talent.

The investment figures in this could reach the sum of well over five billion dollars.

Johnson has already ventured into sports ownership with his portfolio including stakes in the WNBA's LA Sparks, the Los Angeles Football Club, the NFL's Washington Commanders, and the MLB's Los Angeles Dodgers.

O'Neal and James have also expressed interest in owning a Las Vegas expansion team.

But the source noted: Magic's extensive ownership experience and business success might provide him with a significant advantage in these discussions.

His discreet approach to business, encapsulated in his motto loose lips sink ships, suggests we may not hear anything official from him until deals are finalized.

Its understood the NBA is opening two franchise opportunities to expand the league.

NBA commissioner Adam Silver has not yet announced any decisions regarding expansion, but speculation points to a possible announcement during the All-Star Weekend in February or the 2025 Playoffs.

Reports say that Magics business acumen and success in various industries have earned him a net worth of $1.3 billion, making him one of the few athlete billionaires recognized by Forbes.

The financial landscape for NBA franchises is evolving, especially with the recent 11-year, $76 billion TV deal.

Current estimates suggest that the cost of new franchises could range from $4 billion to $6 billion, based on recent expansion fees and median franchise values.

Most recently, Michael Jordan sold his majority stake in the Charlotte Hornets to a group led by Gabe Plotkin and Rick Schnall at a valuation of about $3 billion.

In 2022, Mat Ishbia became the majority owner of the Phoenix Suns in a record $4 billion deal..

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