The NHL is once again making headlines as talks of league expansion reach a fever pitch, with speculation swirling about where the next franchise will land.

With recent teams like the Seattle Kraken and Utah Mammoth setting new standards both on the ice and at the bank, the price for joining the league has skyrocketed—now reaching an eye-watering $2 billion for the 33rd NHL team. As the sport’s popularity and profitability continue to climb, owning a piece of the action has never been more exclusive or competitive.

For NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly, the expansion process is more than just business—it’s about shaping the future of hockey for generations to come. While fans and insiders eagerly await news on the league’s next destination, one thing is certain: the stakes have never been higher, and the impact of this expansion will be felt across the entire hockey world.

Gary Bettman

Photo credit: NHL.com

For Bill Daly and Gary Bettman, expansion is an ongoing discussion, with the last two expansion franchises landing in Seattle with the Kraken and the Utah Mammoth, the cost for the 33rd NHL team will be $2 billion.

The 33rd NHL team will be paying an ever-rising cost for an expansion fee. According to NHL Insider Chris Johston on the Steve Dangle Podcast on July 15th, the next team could expect to pay $2 billion for the cost of entry.

As the profit streams for the NHL grow larger and larger, thanks to teams like the Vegas Golden Knights and Seattle Kraken, the cost to buy in has risen.

The last team to pay an expansion fee was the Utah Mammoth, which surrendered $1.2 billion for the expansion, plus $200 million for relocation of the Arizona Coyotes franchise.

Now, the next group of owners will have to reach deep in their pockets to come up with the money for the next NHL squad.

While this seems like a lot, if we reference third-party evaluators, Sportico dropped this tidbit of knowledge on us:

In November, Sportico’s NHL team valuations had the average franchise worth $1.79 billion, up 37% from 2023.

The price has been exponentially increasing over time. Since Jerry Bruckheimer brought in the Kraken for a meager $650 million in 2021, owners have had to cough up hard change closer to a billion as time has progressed, with Michael Andlauer paying upwards of $950 million for the Ottawa Senators.

Team sports aren’t cheap, and if you have the right ownership group, with the right bid for Bettman and company, your dreams of owning a franchise can come true.

With Seattle and Utah established, where is next to conquer?

Houston? Atlanta?

It seems, wherever the NHL lands next, we’ll see hockey in a familiar place.

Maybe the 33rd team can convince Bettman to relinquish the overly convoluted ways of watching an NHL game and expand access to fans everywhere.