
Leicester's fall from grace: From Premier League champions to relegation to League One
Leicester City faces relegation to League One after a tumultuous season.
NHL Commissioner Gary Bettman stated that the expansion fee for new franchises will be 'substantially more than a billion dollars.' He emphasized that this fee compensates existing teams for revenue loss due to increased competition.
BUFFALO — Gary Bettman has never been one to shy away from the NHL's upward economic trajectory.
During his latest media availability at KeyBank Center, held before Game 2 of the first-round playoff series between the Buffalo Sabres and Boston Bruins, the NHL commissioner weighed in on several topics, including the valuation of franchises.
For years, the magic number for NHL expansion was trending toward the billion-dollar mark. After all, the Vegas Golden Knights joined in 2017 for $500 million and the Seattle Kraken for $650 million in 2021.
But according to Bettman, a billion is no longer the ceiling; it is not even the floor.
"Actually, if we were to expand, it would be substantially more than a billion," Bettman said. "I think people tend to forget, for the most part, when you expand, the expansion fee is really to reimburse the existing clubs for revenues that you're giving up. Because there is an economic value. If you're in 32 teams and you expand to 33, you're now taking national league revenues, and instead of dividing them 32 ways, you're dividing them 33 ways."
The commissioner insisted there are no immediate plans to expand, but discussions over interest continue on an ongoing basis.
"You look at ownership, you look at market, you look at arena, and you look at whether or not it makes the league stronger by doing that expansion," Bettman said. "And there are a number of cities that have been talking to us, and if any of them decides they're ready to check all the boxes and comes in with a concrete plan, I'll take it to ownership. But we're not pushing for it."
2026 NHL Team Valuations: The Values Are Skyrocketing
Gary Bettman indicated that NHL expansion fees would be 'substantially more than a billion dollars.'
Expansion fees are rising because they reimburse existing teams for revenue losses from sharing national league revenues with additional franchises.
The Vegas Golden Knights paid $500 million for their expansion into the NHL in 2017.
The Seattle Kraken paid $650 million for their expansion into the NHL in 2021.

Leicester City faces relegation to League One after a tumultuous season.
Kevin Durant cleared to play in Game 2 against the Lakers!
Governor Beshear questions the retirement package for Kentucky's AD Mitch Barnhart.
Sean McVay is open to a potential reunion with Jimmy Garoppolo for the Rams.
Stetson Bennett's role as Rams backup raises questions as team seeks new QB.
Cleveland Guardians rookie Parker Messick is making MLB history!
See every story in Sports — including breaking news and analysis.
Bettman's appetite for changing the game's actual structure remains nonexistent.
Despite pointed questions regarding the current standings system — notably how the Philadelphia Flyers finished with 10 fewer regulation wins than the non-playoff-bound Capitals — Bettman was dismissive of any structural overhaul.
"Every few seasons or once in a blue moon, you may get an aberration," Bettman remarked. "But I don't think we're at this point in search of a problem that needs to be fixed."
It's the classic Bettman defense: if the television ratings are up and the buildings are full, the math behind the scenes is secondary.
He doubled down on the current playoff format, citing "great rivalry matchups" like the Battle of Pennsylvania and Boston-Buffalo as proof that the system delivers what fans and broadcasters want.
While the backdrop for this availability was Buffalo — a market Bettman praised for its "sensational" turnaround after a 14-year drought — the conversation quickly turned from the ice to the infrastructure.
With the Buffalo Bills' new Highmark Stadium nearing completion, pressure is mounting on the Sabres and local government to address the aging KeyBank Center.
Bettman described the arena as having "good bones" but needing "updates," expressing confidence that owner Terry Pegula will turn his focus there once the football project is settled.
Perhaps most importantly for Western New York fans, Bettman all but guaranteed a return to outdoor hockey in the region.
"I believe it's not a question of if, it's a question of when we play an outdoor game in the new stadium," Bettman said.
While he stopped short of an official announcement, he noted the 20th anniversary of the first Winter Classic is approaching, making the new football stadium a prime candidate for a future showcase.
NHL Players Polled On Expansion, Best Style, Rivalries, Golfing And More
Gambling and Integrity: With sports betting looming over professional sports, Bettman insisted the league monitors "every minute of every game" for irregularities in play and betting lines. He credited outside service providers and NHL security head Jared Maples for proactive tracking.
The PWHL's Success: Bettman called the growth of the Professional Women's Hockey League "exceptional" as it approaches its third playoffs and plans to expand by up to four teams for the fourth season. He noted the NHL continues to offer assistance and promotion for the budding league.
Olympic Validation: The Commissioner admitted that the high viewership and "riveting" hockey of the recent Olympics affirmed the league's decision to return to a best-on-best format. National TV ratings in the U.S. are reportedly up 25 percent to 30 percent, a surge that began before the Games and accelerated after.
The Russian Question: On the prospect of Russia participating in the next World Cup, Bettman said there have been "no developments." The NHL continues to follow the lead of the IOC and IIHF, citing the broader world situation as the primary driver of the current ban.
No Need To Overhaul Player Safety Dept: Despite some mixed feelings with the way supplemental discipline is handed out, Bettman has no appetite to change the way suspension and fines are handed out.
"If you look at the total body of work, what George Parros and his group does is outstanding," Bettman said. "They're monitoring every game in real time. And every now and then, you're going to have a particularly difficult or unique call to make. And, you know, people are going to agree or disagree. But if you look at their body of work and the track record in terms of what we've done on player safety, not just from a discipline standpoint, but from an education standpoint, rule changes, I think the game, particularly based on how fast and physical it is, is in very good shape."
Image
For action-packed issues, access to the entire magazine archive and a free issue, subscribe to The Hockey News atTHN.com/free. Get the latest news and trending storiesby subscribing to our newsletter here. And share your thoughts by commenting below the article on THN.com or creating your own post in our community forum.