NHL exploring Texas expansion with potential $3.5 billion fee

They say everything is bigger in Texas, and that could include the NHL’s footprint in the Lone Star State. The NHL is exploring the expansion process in Texas, as Houston and Austin are being eyed as potential cities to land a franchise.The matter was discussed at the NHL’s board of governors meeting in Manhattan on Tuesday. NHL commissioner Gary Bettman told reporters that the league has been in conversations with the Friedkin family about a potential expansion team in Houston or Austin for two years, according to ESPN’s Pierre LeBrun. Bettman said that Houston and Austin would need new arenas as part of any expansion bid and the expansion fee would be a whopping $3.5 billion if it happens in either city. The NHL will take its time before making a decision and Bettman said it would take a six-month process to make up its mind whether it will go forward with expansion in one of those markets.

Dallas has been home to the Stars since the franchise relocated from Minnesota in 1993, Canadiens owner Geoff Molson, a member of the NHL’s board of governors executive committee, told reporters, according to ESPN’s Greg Wyshynski, that expansion in Texas is “just an exploration at this stage and it’s an important decision.” Dan Friedkin, whose net worth is estimated at $10.3 billion per Bloomberg, emerged as a possible ownership option last year when he was written about by ESPN. Friedkin is the CEO of The Friedkin Group, a conglomerate that has its hands in everything from Toyota distributors to award-winning resorts, according to the company’s website. The company is based in Houston and Friedkin already has a growing portfolio of sports assets through Pursuit Sports, which is a company dedicated to TFG’s sports properties. The company owns Italian soccer club AS Roma in Serie A and The Friedkin Group took majority control of Premier League club Everton. “Pursuit Sports, our family’s global sports ownership and operating platform, has reac...