Gary Bettman hints at possible billion-dollar expansion fee for next NHL team

Commissioner Gary Bettman's recent statements ignited speculation about the NHL's expansion plans, suggesting that the league might soon become the world's first 33 or 34-team professional sports league.

While Gary Bettman emphasized that the NHL is not currently in formal expansion mode, he hinted if the right situation were to materialize, the NHL could entertain the idea of expansion.

Considering the impressive expansion fees paid by the Vegas Golden Knights ($500 million) in 2017 and the Seattle Kraken ($650 million) in 2020, the next expansion fee could potentially reach the billion-dollar mark.

Bettman said that recent franchise sales, such as the Ottawa Senators for $950 million and the impending sale of the Nashville Predators for $880 million, set a precedent for the league.

According to Dailyfaceoff.com, Gary Bettman said:

“A lot. Our franchises have been historically undervalued, but if you look at what’s been going on regarding franchise values, they’ve been increasing.

“Paying a number approaching a billion dollars sets a floor for our franchises.”

Expanding the NHL could offer several benefits, including increased revenue, more players, access to new markets, expanded broadcasting opportunities and significant financial gains for team owners.

Gary Bettman on cities actively seeking expansion

Bettman acknowledged a continuous stream of interest from various locations, including Houston, Atlanta, Quebec City and Salt Lake City.

Bettman said:

“The best answer I can give you is yes, we have continuous expressions of interest from places like Houston, Atlanta, Quebec City and Salt Lake City, but expansion isn’t on the agenda. But we’re not in a mode to say, ‘OK, if you’re interested in expansion, submit your applications, and we will evaluate,’ as we have done previously.”

He added:

“We aren’t there yet, and it’s just an expression of interest. As you all know, I take meetings all the time on a variety of subjects, so if someone wants to talk, I’ll talk to them.

“If someone came in and said, ‘OK we have a building, its own market, this is the ownership group, and we’d really like to go,’ then we would take a look and decide whether or not we were inclined to expand or not.”

Bettman's cautious stance on expansion arises from the fact that none of the potential suitors have met all the prerequisites necessary to submit a successful application. These requirements include market size, suitable arenas and strong ownership groups. The NHL is not actively seeking expansion but remains open to discussions with interested parties.