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Red Bull seeks to expand its sports empire in the NBA and goes for the Las Vegas franchise

Red Bull seeks to expand its sports empire in the NBA and goes for the Las Vegas franchise
Red Bull seeks to expand its sports empire in the NBA and goes for the Las Vegas franchise

Red Bull negotiates his entry into the NBA with one of the franchises the league is negotiating to incorporate. The group that owns the energy drink brand is in initial negotiations to enter the new team that the competition will have in Las Vegas.

The deliberations, currently focused on a new franchise in Las Vegas, are internal and at an early stage, said the people, who asked not to be identified because the information is confidential. Price will be a considerable factor in any potential offer, they said.

NBA: Red Bull wants to have the Las Vegas franchise

“We generally do not comment on speculation about what we are or are not planning,” a spokesperson for the Austrian company told Bloomberg.

This is a bid in which the RedBird and Fenway funds also participate, which are among those interested in becoming part of the team’s ownership. It is estimated that its valuation will range between US$5.5 billion and US$6.0 billion.

The energy drink heavyweight would also compete with many other suitors, including current and former NBA players such as LeBron James. If any of the interested parties decide to bid, the offer would first have to be approved by the NBA.

Las Vegas, Seattle and Mexico City are some of the most likely options for new NBA franchises, and Las Vegas in particular it has a recent history of trying to attract more sports teams to boost its position as a tourist attraction.

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Red Bull has an extensive investment portfolio in the world of sports and now intends to enter the world of the NBA.

Motorsports

Already in 2022, NBA Commissioner Adam Silver has been saying that the league will turn to expansions, after it completes a new round of television rights deals (which is expected to resolve itself in the next month).

Nevada City was transformed into a great sports ecosystem. The WNBA’s Las Vegas Aces compete there; the Raiders of the NFL, and in 2025 the Oakland A’s of the MLB will arrive. Since 2017, the NHL’s Las Vegas Golden Knights have also competed in this city. The MLS also showed interest in expanding in this city.

For its part, Red Bull It has a wide portfolio of investments in the world of sports. He already controls the RB Leipzig of the Bundesliga and the Bora-Hasgrohe cycling team of the WorldTour. He also signed a strategic alliance with Premier Padel, and has sponsorship agreements with the Alinghi America’s Cup sailing team and with the Formula 1 teamamong many others. He recently joined Leeds United in English football.

Source: Ambito

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