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In December 2020, with no fans in arenas and lines of credit and loans to owners growing, NBA commissioner Adam Silver said the league was taking a fresh look at the idea of expanding after nearly two decades.
In the three-plus years since he floated the concept, an entire industry has developed as great anticipation has built. Prospective ownership groups have been quietly raising money. Two firms have announced planned new arenas in Las Vegas. LeBron James has openly campaigned for Silver to award him a team.