Shams Charania, ESPN’s Senior NBA Insider, stated on X: “The NBA’s Board of Governors has approved a vote for the league to explore bids and applicants for expansion teams exclusively in Las Vegas and Seattle, sources tell ESPN. A bidding process is expected to generate offers in the $7-10 billion range for each team.” In February, MSG Sports (MSGS) announced that its board of directors has unanimously approved a plan to explore a possible spin-off that would separate its New York Knicks business from its New York Rangers business, creating two distinct publicly traded companies. Other publicly traded owners of sports franchises include the Liberty Braves Group (BATRA) and Manchester United (MANU).
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