Overview
- Deputy Commissioner Bill Daly said Wednesday the league and Dan Friedkin’s group have only a nonbinding term sheet and the Board of Governors has not yet committed to expansion.
- Governors will revisit the proposal at a Sept. 22 meeting in New York where they will seek clearer direction from owners on whether to proceed.
- The league has discussed a roughly $3.5 billion package that would combine an expansion fee and arena costs while some reports separately cite about a $2 billion expansion fee.
- Houston and Austin are the leading market options, with Houston valued for its large population and Austin for the upside of being the first big‑league team in that city.
- Officials say a new, NHL‑ready arena is required and that having one built in time for the 2029–30 season may be an aggressive goal, which could push any debut later.