I said this in another thread about expansion fees. To get an expansion fee you need an owner that is willing to foot the bill. If there is not an owner in the market interested in coughing up the $250-300M expansion, and the league wants to get into that market, relocation is the only other option.
From the last round of expansion talks there were only two teams willing to think about submission of the $10M application fee - Las Vegas and Quebec City. Las Vegas had very deep pockets and was desperate to get a team before the other leagues could push their way into the market. Quebec couldn't come up with the $500M. As a result, Quebec has been suggested the landing place a relocation.
Now, with a $250-300M expansion fee Quebec may again become a serious expansion locale, as might a couple of other cities, including Houston. If the league is smart, they float that and see if they can get parties interested at a lesser cost, but with the knowledge they are going to be selecting from a dramatically smaller talent pool from the existing franchises. If Quebec or Houston steps up, they should then put an expansion team there. I think the reality is that no one is going to pay that much money for a secondary tenant in a building. They will be more inclined to look at relocation and coughing up the $50-60M fee for moving a team.
Frankly, the best option here is to go expansion with Quebec City for 2020, then look at possible relocations, do them at the same time, or in 2021 or 2022. Relocation has some interesting options, including Houston, Seattle, Portland, Kansas City and Oklahoma City. Not primary markets, but locations where owners can use the NHL as a secondary revenue stream and not have to be concerned about being the primary draw. The relocation fee is a lot easier pill to swallow for a owner who is looking at the hockey team as a secondary draw. The established team, and the immediate ability to be competitive is well worth going that route.
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