NHL still expects more clarity on Texas expansion by December
The NHL still expects to know more by December, commissioner Gary Bettman said. He said there is no rigid timetable or “magic date” for a decision.
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Key facts, context, and what it means.
Key takeaways
Cost framing varies by source: Front Office Sports put Texas expansion at about $3.5B including a new arena, while Puck Prose’s CNBC recap cited a $2B-range expansion fee.
Bettman said expansion would require three-quarters of the Board of Governors to be comfortable with the deal, and he emphasized there’s still “a lot of work to do” and no “magic date” for a decision (Front Office Sports; Bleacher Report).
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NHL commissioner Gary Bettman said the league expects to know more by December about potential expansion in Texas, but said there is no rigid timetable and no “magic date” for a decision, according to Front Office Sports and Bleacher Report.
Bettman said the league expects to know “a lot more” by December, but he also said there is no “magic date” by which expansion has to be completed, according to Bleacher Report. He described the league as working through the situation with a “wait-and-see attitude,” and said the NHL is not putting time limits on the discussions.
Texas is the only market with a named path and a named backer
Front Office Sports reported the NHL in June chose to pursue an expansion path with billionaire Dan Friedkin in either Houston or Austin. Bettman reiterated Tuesday that the league still has plenty of work ahead before it picks between the two cities, and that expansion requires three-quarters of the governors to be comfortable with the deal, Fisher wrote.
Bettman said that if there is expansion, “three-quarters of the governors” would have to be comfortable with it, according to Front Office Sports. He also said there is no “magic date” by which something has to get done, per Bleacher Report, and described the Texas work as still having “a lot of work to do,” per Front Office Sports.
Bettman described expansion as a “multibillion-dollar transaction” that affects every club and would require three-quarters approval from the Board of Governors, according to Front Office Sports.
The price tag is the first practical variable, and sources frame it differently
Front Office Sports put the cost of a Texas franchise at about $3.5 billion when combining the NHL expansion fee with the costs for a new arena.
Puck Prose, summarizing a CNBC interview with Bettman, reported that he said an expansion fee would be in the $2 billion range and noted that moving from 32 to 34 teams would mean dividing equity among more clubs.
Bettman said the league expects to know “a lot more” by December, but he added there is no “magic date” for an expansion decision, according to Bleacher Report.
A ‘wait-and-see’ stance ripples through arena procurement and media planning
Front Office Sports reported that another NHL franchise in Texas would likely require about $3.5 billion between the expansion fee and costs for a new arena.
Front Office Sports reported that the NHL is dealing with disruption in local media distribution, with teams using mixtures of over-the-air television, streaming, and cable. Bettman said the league will keep flexibility at the league level to offer clubs maximum optionality, according to Front Office Sports.
Atlanta and Phoenix interest is real, but less structured
Front Office Sports reported that expansion interest is also running high in greater Atlanta and Phoenix, though with less defined structure from the league regarding those markets. According to Front Office Sports, Bettman and deputy commissioner Bill Daly said the other expansion candidates could soon move into more intensive feasibility studies.
On Atlanta specifically, 11Alive reported that businessman Vernon Krause said he believes his effort is close to presenting a “completed package” tied to a proposed arena development called The Gathering in Forsyth County.
Front Office Sports reported the NHL is pursuing an expansion path in Texas with billionaire Dan Friedkin in either Houston or Austin. The league has also seen interest in expansion in greater Atlanta and Phoenix, but Front Office Sports said those markets have even less defined structure from the league.
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