What I’m hearing on NBA expansion: One deadline has passed, while another looms

The NBA, advised by financial firm PJT Partners, has been gathering information from bidders interested in potential expansion franchises in Las Vegas and Seattle, with different submission deadlines for each city. Commissioner Adam Silver has cautioned that the league may conclude this process, which officially began in March, without adding any new franchises. The league is weighing whether to add up to two new teams, with bid groups required to submit cap-table sketches, investor details, and proposed purchase prices.