LeBron James squashes rumors about seeking ownership in the NBA Las Vegas team

• King James has dismissed rumors that he was looking to own the upcoming NBA Las Vegas team
• The Athletic suggested that the company that would have backed him, Fenway Sports Group, may have doubts about NBA franchise ownership
• The NBA is set to expand with two more franchises - the first time since 2004

LeBron James is more than one of the NBA's most successful players - he is an entrepreneur who has moved past playing on the court to playing the market, and James has had some success with it.

King James says no to the NBA team ownership in Las Vegas

When rumors circulated recently that an NBA Las Vegas team is on the cards, the name of James came up frequently, as the player already owns part of the Boston Red Sox through Fenway Sports Group, but he has put those rumors to rest now.

LeBron James has no intention at all to get involved with the new Las Vegas NBA franchise that will be part of the league’s two-team expansion over the next years. Speaking to The Athletic, James simply stated that he was not interested at all in owning an NBA team.

However, the issue may arise from Fenway not being interested in purchasing an NBA franchise more so than James’ own feelings about the issue. The Athletic cited sources on the condition of anonymity and explained further:

"One of those sources, who was not authorized to speakpublicly for Fenway, said the global sports investment firm was out on NBA ownership in Las Vegas because of the expected cost: the league is reportedly seeking expansion fees as high as $8 billion per team."

James is not just disinterested - he may not have sufficient backing

The media added: "FSG was long expected to be James’ primary financial backer in his stated desire to be an NBA team owner, and because of that, a source close to James said, ‘With Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team."

While James’ ownership of a future NBA Las Vegas franchise remains speculative - and as of right not less likely than so - the league is moving formally ahead with a governors’ vote on the issue. The NBA has not expanded since 2004, with two more teams possibly joining in before long.