The NHL’s once-derided Sun Belt expansion wave, now the center of the league’s competitive power, is set to grow once again.
The league’s Board of Governors has endorsed a plan to explore expansion in Texas to either Houston or Austin. The plan is in partnership with billionaire Dan Friedkin, who has actively pursued an NHL franchise for several years, and his family.
A specific timetable to place a team has not been set, nor has a target expansion franchise fee, though this initial exploration will run for six months. NHL commissioner Gary Bettman, however, said the arrival of the league’s 33rd team would require at least $3.5 billion between the expansion fee and a new arena.
“That’s part of the process to determine what would be best, both for the league and Dan Friedkin and family,” Bettman said of the ongoing deliberation between Houston and Austin. “Both cities will require a new arena. It may be more feasible in one place than the other. And as we dig a little deeper and do the due diligence, we’ll figure out which makes the most sense.”
Friedkin, carrying an estimated net worth of $11.5 billion, has amassed a sizable portion of his wealth as a major distributor of Toyota vehicles and parts. He also controls several other sports teams, including the Premier League’s Everton and Serie A’s AS Roma.
