Austin and Houston are among the cities under consideration for NHL expansion, according to sources speaking to ESPN. The league’s board of governors is reviewing proposals during its current New York meeting, signaling a potential return to growth after a five-year hiatus. Expansion fees have historically been steep, with the $500 million cost for the Vegas Golden Knights (2017-18) and $650 million for the Seattle Kraken (2021-22). Commissioner Gary Bettman has emphasized that any new franchise would require a $2 billion investment to justify the financial burden, a threshold the league may now meet given its record revenues of $7.5-8 billion this season. The $104 million salary cap for 2026-27, an $8.5 million increase, also reflects the league’s financial strength.

The push for Texas expansion comes as the NHL seeks to diversify its U.S. market presence. While no formal bids have been announced, the league has received inquiries from “across North America,” as Bettman noted earlier this month. Cities like Austin and Houston offer unique advantages: Austin’s growing sports culture and Houston’s existing hockey infrastructure could attract fans and talent. However, the league must balance financial viability with competitive equity, ensuring new teams don’t disrupt existing franchises. The timing aligns with the NHL’s broader strategy to capitalize on rising hockey popularity in non-traditional markets.

This expansion could reshape the league’s landscape. A $2 billion fee would dwarf past investments, potentially accelerating stadium deals and revenue sharing. For fans, it means more games and rivalries, but risks include over-saturation if multiple teams emerge. Bettman’s focus on financial thresholds suggests the league is serious about avoiding the pitfalls of past expansions. With hockey’s popularity surging, particularly among younger demographics, the move could secure the NHL’s long-term growth—provided cities like Austin and Houston can meet the league’s exacting demands.