Gary Bettman raises expansion fee to an insane amount

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Josh Tupper
September 16, 2023 (10:07)

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The NHL's expansion to Seattle and Las Vegas have been resounding successes. The markets have flourished and because of this the league is already looking at other potential destinations. However it appears the league is going to be looking for a hefty payment from any potential suitors.

When the Seattle Kraken joined the NHL they paid an expansion fee of 650 million dollars. This climbed 150 million from the fee paid by the Golden Knights just a few years earlier.

Now NHL Insider Darren Dreger reports, Gary Bettman appears to have his sights set on a gigantic fee for the next possible franchise. Dreger reports the next expansion fee could be in the neighborhood of 2 billion dollars.

As the NHL continues to acknowledge, expansion is not a priority, however, sources suggest, if the league considers expansion in the next 5 years.$2 billion could be the number. 😳

According to Sportico's most recent valuations only 2 teams are currently valued at over 2 billion dollars (Toronto Maple Leafs/New York Rangers). A valuation of 2 billion dollars for a brand new potential franchise doesn't make sense in this neighborhood.

While it seems like Bettman has found another potential revenue stream for just the owners, it appears he may already be bungling what has so far been a successful expansion process.