The NBA took the first step toward putting an expansion team in Las Vegas in March, in announcing it was beginning to explore expansion to Southern Nevada.

The NBA board of governors vote was the first step of many that will occur along the way to Las Vegas potentially landing an NBA franchise.

The next step will be deciding who the potential ownership group would be. The ownership group will need to pay an expansion fee in the area of $7 billion to $10 billion.

That money would be divided among the 30 current teams.

There are multiple ownership groups who are interested in landing a Las Vegas NBA expansion team.

They include Earvin “Magic” Johnson and his group the MAGI and a group headed by Golden Knights owner Bill Foley. The Las Vegas Jacks group has also announced their plans to bid for a Las Vegas team who are headed by former NBA owner Jerry Colangelo and include other members such as former NBA player and coach Vinny Del Negro, chairman and managing partner of Prime Capital Financial Scott Colangelo, media executive David Levy, American Century investments CEO Jonathan Thomas and former NBA lottery pick and current NBA analysts Jay Williams.

Two other groups, including one led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie and another featuring former Walt Disney CEO Bob Iger and venture capital billionaire Joshua Kushner are also reportedly interested in bidding for a Las Vegas NBA team.

Fenway Sports Group, which includes NBA star LeBron James, said it is no longer interested in being part of an NBA expansion team ownership group, despite previous statements made by James expressing that he would be interested in owning a Las Vegas team.

During the discussions between the NBA and potential ownership groups, where the team would play will be part of those talks.

T-Mobile Arena is in the running, with Johnson saying his MAGI group would be open to its potential team playing there. Foley told the Review-Journal in July that he would look to renovate T-Mobile Arena to the tune of between $300-$400 million, to bring the 10-year-old arena to NBA standards.

Multiple NBA-ready arena projects have been floated by multiple groups.

The Las Vegas Diamond Arena project has been proposed on the South Strip on 11 acres located just across Las Vegas Boulevard from the Mandalay Bay. The 21,212-seat proposed arena project is backed by a group that includes Chetak Development Inc.

Caesars Entertainment and its landlord VICI Properties are also working on an NBA-ready arena proposal. Plans call for building an arena to house an NBA team on about 50-acres located behind Caesars’ properties the Horseshoe, Paris Las Vegas and the Horseshoe.

Other arena projects have been proposed on different levels by the MAGI, Oak View Group, LVXP and the Three Tribes group.

With the NBA targeting potential expansion teams beginning play for the 2028-29 season, should the league approve expanding, it is unlikely a new arena could be built in that time. Foley said he is open to a team temporarily playing at T-Mobile Arena while a new NBA arena is being built, should his group not win the bid to net a Las Vegas NBA expansion team.

The NBA is looking to have an answer to if the league plans to add new teams by the end of this year, NBA commissioner Adam Silver has said on multiple occasions. Silver has also noted that the league could choose to add both Las Vegas and Seattle, just one city or choose to not expand at all.

If the NBA approves adding teams in Las Vegas and Seattle, an expansion draft would be held, with players selected from the other 30 teams. In 2004, when the NBA expanded to Charlotte, teams could protect up to eight players each. It remains to be seen how many players would be protected on each franchise if the NBA approves expansion.

Las Vegas and Seattle would be allowed to select only one player from each team.

Las Vegas and Seattle also would be given a lottery pick in the first NBA draft for which they are eligible.

Adding two West Coast teams would force the NBA to realign the Eastern and Western conferences, with 16 teams each.

Las Vegas and Seattle would be primed for placement in the Western Conference. That would force the NBA to move one current Western Conference team to the Eastern Conference.

Realignment candidates include the Minnesota Timberwolves and the Memphis Grizzlies.

The Review-Journal is owned by the Adelson and Dumont families, owners of the NBA’s Dallas Mavericks. Patrick Dumont is a member of the NBA’s board of governors.

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.