Forget the ‘which cities should have an NBA team?’ question. Why hasn’t the NBA expanded?

— 1988-1989: Charlotte Hornets, Miami Heat, Orlando Magic, & Minnesota Timberwolves.

— 1995: Toronto Raptors & Vancouver Grizzlies.

— 2004: Charlotte Bobcats.

— 2008: Oklahoma City Thunder (by movement, not expansion).

21 years, the league is bigger than ever before, more competitive & talent-abundant then ever before, and yet not a single new expansion team. The obvious cities of choice would be Seattle & Las Vegas. The Hornets got gifted back their team after 2 years. Why haven’t the Sonics gotten theirs back after 17 years and counting? Is there something the NBA is worried about? How would expansion harm & benefit the league as a whole?