Folks, this is the moment Seattle basketball fans have been waiting 16 years for. The NBA Board of Governors has officially approved expansion to 32 teams, and Seattle and Las Vegas are the exclusive markets. We're talking about franchise valuations in the $7-10 billion range - higher than all but three current NBA teams.

Let that sink in for a second. These expansion franchises could be worth more than the Celtics, more than the Heat, more than teams with decades of history and championship banners hanging from the rafters. That's what sports is all about, folks - the business side showing us just how much basketball has grown.

But this isn't just about the money. This is about bringing basketball back to a city that never should have lost it. The SuperSonics were ripped away from Seattle in 2008, and the wound never healed. Every time Kevin Durant laced up his shoes for Oklahoma City, it was a reminder of what was taken.

Now here's where it gets really interesting: Durant will be an unrestricted free agent the summer before the proposed Seattle return. Imagine that - KD ending his career where it all began, bringing the story full circle. You can't write scripts better than that.

The bidding process starts now, according to ESPN's Shams Charania. Multiple high-ranking officials are calling expansion "when, not if." The league will examine bids over the next several months and decide whether to execute the purchases now or wait a few years.

For Las Vegas, this is another feather in the cap for a city that's become America's sports destination. They've got the Golden Knights, the Raiders, the - and soon, an NBA franchise worth more than most of the league.