The NBA's board of governors unanimously approved a vote to explore expansion bids for Las Vegas and Seattle, marking the league's first expansion move since 2004. All 30 owners supported examining potential franchises in these two markets, with sources indicating bidding could reach $7-10 billion per team.

Commissioner Adam Silver announced the decision, calling it a reflection of the board's interest in these markets with strong NBA histories. The league has engaged investment bank PJT Partners as a strategic adviser to evaluate prospective markets, ownership groups, and arena infrastructure. A final vote on the 32-team expansion could come later this year.

The NBA targets the 2028-29 season for new franchises to begin play. League realignment would likely see either the Minnesota Timberwolves or Memphis Grizzlies move to the Eastern Conference to balance the 16-team conferences. This expansion follows similar moves by other leagues, with the NHL adding teams in both cities and the NFL's Raiders relocating to Las Vegas.