Since June 23, the debate about where an NHL expansion team should go in Texas has focused on Houston and Austin. NHL commissioner Gary Bettman confirmed the league is exploring a second Texas team with the Friedkin family, which agreed to a $3.5 billion investment covering expansion fees and arena costs. The Dallas Stars have played in Texas since 1993, and adding another team would mark the NHL’s third expansion since 2017, following the Vegas Golden Knights (2017) and Seattle Kraken (2021).

The NHL’s revenue last season was between $7.5 billion and $8 billion. While Houston is the largest U.S. metro without an NHL team, Austin has been one of the fastest-growing markets for over 15 years. The Friedkin family initially targeted Houston but shifted focus to Austin due to its tech-driven demographics and potential to become the first 'big four' sports team in the city, similar to the Golden Knights in Vegas.

ESPN reporters Ryan S. Clark, Kristen Shilton, and Greg Wyshynski note that Austin’s momentum grew as a preferred destination, though league approval remains uncertain despite financial readiness.