Could the NHL be looking at Expansion again? There are two top options aleady
The Sheet: David Pagnotta on The Sheet with Jeff Marek on NHL expansion, with Atlanta and Houston the top two options.
** NHLRumors.com transcription
Marek: “First of all, let’s start with something juicy, Atlanta, Houston, I believe are destinations a and destinations B, expansion on the horizon. Dave Pagnotta.”
Pagnotta: “Yeah, look, it’s no surprise that, you know, with, with NBA going the expansion with regards to Las Vegas and Seattle, and going through that process. MLB talking about expansion as well. No surprise really, that the NHL is going to get back on this train. And this has been something in the works for a while.
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I explained it earlier this week. They’re not going to go through an official and formal expansion process, because that’s going out and finding people that might be interested in the league and groups and markets and all that. They know what their options are. You just listed two of them, Atlanta and Houston.
So once the ducks are in a row, then they will start to move those closer to the to the goal line. But you know, look, Atlanta is building their facility now. They’re building their entertainment district with Vernon Krause’s group. All indications are that’s the one that’s that’s ahead of the curve and ready to go once that is is near completion. And at that point, they’ll explore the expansion process on that end.
Again, the league knows what their options are over there in Atlanta. They know they have options in Houston, sounds like a couple. And they know they have interested parties in other markets as well. So to go through a formal process isn’t necessary. They’re just going to sit back, wait, and when somebody is ready to cough up two plus billion dollars, it might be a lot more than that, they’re going to sit back and say, ‘All right, now we’ll take that call.’”
Marek: “Feels more like $3 (billion) now, doesn’t it? That, ‘Oh yeah. Well, ($2 billion), like that was the price five minutes ago, but now, now we’re looking at 3B. Thank you very much.’”
Pagnotta: “Yeah. No, I think, I think you’re right on. I mean, look with with Carolina, putting their valuation at $2.66 billion, and selling 12.5%. Before that was going on at the start of the season, Vegas started the process to look for 10%, look to sell 10% of their club. At the time, it was $200 million. I’m not sure where that’s gone. I don’t know if there’s already been an agreement in place, but if there isn’t, I’ve got to imagine that $200 million is going closer to $300 million. To have a $3 billion valuation on Vegas franchise, if Carolina is looking at $2.6 (billion), Vegas, is at least three.
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So for an expansion side, yeah, you’re definitely looking in that two to three range. Could certainly be closer to three. Year ago was 1.5 right? Like that, the way that the league is, is is on the incline, is tremendously impressive. And then you’ve got you make the argument. Well, okay, well, the NBA is looking for seven to 10 billion for their franchise to go at least three on the NHL side is not out of whack by any stretch.”
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