Red Bull Eyes NBA Expansion with Potential Las Vegas Franchise
Red Bull GmbH is considering a bold entry into NBA basketball by potentially bidding for a new team in Las Vegas, according to Bloomberg. This prospective venture is in the early stages of internal discussions for the energy drink giant, which has a history of significant investments in sports franchises and athletes.
The deliberations, which are still in the early stages, focus primarily on the financial aspects. Sources familiar with the matter indicated that the company is weighing the financial implications carefully, and the price would be a significant factor in their decision.
When approached for comments, a Red Bull spokesperson adhered to the company’s policy of not commenting on speculative plans.
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100% Welcome Bonus Up to ₦50.000Financially, the potential acquisition presents challenges, particularly given Red Bull’s reluctance to incur debt.
However, the company’s robust financial performance, with over 12 billion cans sold in 2023 and net sales exceeding €10 billion ($10.9 billion), demonstrates its capacity for substantial investments. Notably, the sales of the last three NBA teams all topped $3 billion.
Should Red Bull proceed with an NBA bid, it would mark a significant addition to its already extensive sports portfolio.
The company currently owns two Formula 1 teams, football clubs including Major League Soccer’s New York Red Bulls and RB Leipzig, and has recently acquired stakes in English football team Leeds United and the Bora-Hansgrohe cycling team. An NBA team would likely become one of its most valuable assets.
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110% Welcome Bonus Up to ₦55.000Red Bull to Usher New NBA Ownership Model?
Red Bull’s potential NBA bid places it in competition with various high-profile individuals and investment groups. Samantha Holloway, daughter of a TPG Inc. co-founder, is notably assembling a consortium for a Seattle-based NBA team.
A bid from Red Bull would signify a shift from the traditional high-net-worth individual or investment group ownership model. Any bid would require NBA approval, which could see the league embracing a new type of ownership structure.
Red Bull is currently led by Mark Mateschitz, who took over following his father’s passing two years ago. In January, the company stated, “Our growth plans for 2024 foresee a continuation of the positive developments so far, and — as usual for Red Bull — will be financed by operative cash flow.”
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