NHL exploring Austin and Houston for Texas expansion

The Dallas Stars could one day have some company in Texas, with commissioner Gary Bettman announcing Tuesday that the NHL is looking at Austin and Houston as potential expansion targets.

It's part of an agreement reached with billionaire Dan Friedkin and his family. Bettman said the term sheet agreed to by the Board of Governors executive committee spans the next six months and would include a total required investment of $3.5 billion to cover the costs of an expansion fee and construction of a new arena.

Bettman added that Austin has joined the equation after discussions over the past two years focused primarily on Houston.

"Pursuit Sports, our family's global sports ownership and operating platform, has reached an agreement with the NHL that provides us with the exclusive rights to bring an expansion NHL team to the State of Texas, with a primary focus on both Austin and Houston as potential markets," the Friedkin family said in a statement provided to Field Level Media.

"Each city brings unique attributes that would make a new team a huge success - both have the infrastructure, passionate fan bases, and economic strength needed to support a championship-caliber franchise for years to come.

"We have wanted for some time to bring an NHL team to Texas, and we are excited that the process has now begun. Selecting a new market for an NHL franchise is a special and important responsibility, and we are grateful to the league for their faith in us and their support. Working with Commissioner Bettman and the NHL, we will undertake a principled, disciplined, and methodical process to ensure we find the right long-term home for this new franchise."

Bettman reiterated during the Stanley Cup Final earlier this month that the league has received interest from prospective cities and owners across North America as it evaluates potentially adding a 33rd franchise.

In addition to the two Texas locations, other cities that have publicly stated an interest in hosting an NHL team include Atlanta, New Orleans, Cincinnati, Kansas City and Omaha, Neb. Atlanta had two previous NHL teams that relocated to Calgary and Winnipeg.

Bettman previously told the board of governors that potential expansion teams should expect to come in for a fee of at least $2 billion, per ESPN.

The newest NHL franchise, the Seattle Kraken, began play in 2021-22 after laying out a $650 million expansion fee. That was a significant leap from the $500 million it cost for the Vegas Golden Knights to found a club that first faced off 2017-18.

--Field Level Media