Plans for LeBron James to eventually own an NBA franchise have taken a significant hit.
Fenway Sports Group, long viewed as his primary financial partner, has pulled out of pursuing a Las Vegas expansion team, two sources with direct knowledge told The Athletic.
The reported $8 billion expansion fee is the main obstacle. This development directly affects James’ outlook.
“With Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team,” a source close to James told The Athletic.
James, whose net worth is estimated at $1.4 billion by Forbes, does not have the capital to bid alone and would need a group of investors.
He first shared his ownership goal in August 2016 and named Las Vegas as his preferred market in June 2022.
Still under contract with the Los Angeles Lakers, he would also need to retire before making a formal bid. Expansion teams are targeting a 2028 start.
James has partnered with FSG since 2011, holding stakes that include partial ownership of the Boston Red Sox. Maverick Carter is also part of the group.
NBA governors are set to vote March 25 on whether to move forward with evaluating Las Vegas and Seattle. Final approval would require support from 23 of 30 owners.
Recent sales show rising costs: the Boston Celtics sold for $6.1 billion, while the Los Angeles Lakers reached a $10 billion valuation.
LeBron James Unlikely To Be Involved In Bidding On NBA Expansion Team With FSG Exiting https://t.co/suY4OdfQuG
— RealGM (@RealGM) March 19, 2026
