Global energy drinks heavyweight Red Bull is considering bidding for a new NBA basketball team based in Las Vegas, according to reports.
Bloomberg has reported that deliberations are currently only internal and in their early stages, with the price of entry being a considerable factor in any potential bid - an NBA expansion team - taking the league up to 31 sides in total - would be expected to cost over $4 billion. Each of the last three NBA teams sold were valued at $3 billion or more.
The energy drinks heavyweight would also be competing with numerous other suitors, including current and former NBA players, such as LeBron James. If any of the interested parties do decide to bid, the offer would have to be approved by the NBA first.
Las Vegas, Seattle, and Mexico City are some of the more likely options for new NBA franchises, with Las Vegas in particular having a recent track record of trying to attract more sports teams to boost its position as a tourist attraction.
As far back as 2022, NBA commissioner Adam Silver has been saying that the league will turn to expansions, after it completes a new round of TV rights deals (expected to resolve itself in the next month or so).
Red Bull, meanwhile, has been further expanding its sporting presence recently, through its first investment in a UK sporting property, taking a minority stake in English second-tier soccer club Leeds United.
Red Bull will add Leeds to a multi-club network that includes RB Leipzig in Germany, Austria's Red Bull Salzburg, New York Red Bulls in the US’ Major League Soccer, and Brazil’s Red Bull Bragantino.
The giant also owns two teams in motor racing’s Formula 1, Red Bull Racing and a sister outfit, as well as ice hockey club EC Salzburg.
Earlier last month, Red Bull also completed its acquisition of Bora-Hansgrohe, the German-based WordTour team, to make its first entry into professional road cycling.
Red Bull’s foray into sports ownership began in 2005, while its license for a professional soccer team in Leipzig was bought in 2009.
