Is the NHL set to expand?
Published Wednesday, August 27, 2014 6:21PM EDT
Last Updated Wednesday, August 27, 2014 6:54PM EDT
The NHL is denying a rumour it has plans to expand the league – a rumour that includes a second team for Toronto and putting a team in Las Vegas.
But just like Elvis Presley, the rumour has already left the building.
Thank you. Thank you very much.
Howard Bloom of Sports Business News got the ball rolling on Tuesday with a tweet that claimed Las Vegas, Seattle, Quebec City and the Toronto area were all in line for expansion franchises by 2017.
Tony Gallagher of The Province also reported that putting a team in Las Vegas is already considered to be a done deal. Coincidently, MGM Resorts recently began construction on a 20,000 seat arena.
Bloom says one simply needs to do the math. He says the four-team expansion will earn the league almost one and a half billion dollars in expansion fees. That means each existing franchise would receive around $50 million. It represents a cash windfall for both the owners and the players,” he says. And he maintains that is simply too enticing an opportunity for the owners to ignore.
In addition to Las Vegas, construction is also underway for a new arena in Quebec City. And there have been discussions for new facilities in Seattle and in Markham, Ontario.