What happened: Deputy commissioner Bill Daly said Houston is the priority market, with Austin as an alternative. Any franchise would require a new arena and approval from the NHL Board of Governors.
Why it matters: Friedkin’s Pursuit Sports has agreed to the expansion fee, contingent on those approvals. Adding a 33rd club would leave the league seeking another market to restore an even team count.
By the numbers: The wider investment is estimated at $3.5 billion, including the expansion fee and arena costs. The NHL opened a six-month evaluation process in June.
What to watch: Arena plans and the Board of Governors’ decision are the next hurdles.