LAS VEGAS, NEVADA – JUNE 06: William Karlsson #71 and Mitch Marner #93 of the Vegas Golden Knights celebrate after defeating the Carolina Hurricanes 5-4 during the second overtime period in Game Three of the 2026 Stanley Cup Final at T-Mobile Arena on June 06, 2026 in Las Vegas, Nevada. (Photo by Bruce Bennett/Getty Images)
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The NHL is exploring further expansion opportunities, according to recent reporting from ESPN’s Emily Kaplan. While no formal decision has been made, the league is reportedly considering Houston and Austin as primary candidates for potential new franchises.
While neither city has hosted an NHL team, both have a history of professional hockey. The Austin area, specifically Cedar Park, has been home to the AHL’s Texas Stars since 2009, and Houston previously hosted the Aeros in the AHL from 2001 to 2013.
The expansion process would begin with the NHL Board of Governors and would likely hinge on the ability of ownership groups to meet the $2 billion expansion fee per team, a figure previously noted by Commissioner Gary Bettman. If successful, the league would expand to 34 teams, surpassing the size of other major North American professional sports leagues.
Given hockey’s current standing in the U.S. sports landscape, the motivation behind this move is largely financial.
Record-Breaking Revenue
The NHL is experiencing significant financial momentum, with projected revenues for the 2025-26 season reaching a record $8 billion—a $1.5 billion increase over the previous year. This growth makes expansion an incredibly attractive proposition for owners.
Expansion fees alone could account for half of that projected revenue. With upcoming media negotiations and a growing league, the incentive to increase total revenue by such a massive margin is hard to ignore.
Over the last decade, the NHL has been more aggressive in its expansion efforts than the MLB, NBA, or NFL. The Vegas Golden Knights, who joined in the 2017-18 season after paying a $500 million fee, have become an immediate powerhouse, reaching the Stanley Cup Final in their inaugural year and appearing in three finals since. Similarly, the Seattle Kraken joined in 2021 with a $650 million fee, successfully tapping into a lucrative new market.
Further boosting the league’s outlook is the planned increase in the regular season schedule to 84 games per team.
SUNRISE, FLORIDA – JUNE 24: Aleksander Barkov #16 of the Florida Panthers lifts the Stanley Cup after Florida’s 2-1 victory against the Edmonton Oilers in Game Seven of the 2024 Stanley Cup Final at Amerant Bank Arena on June 24, 2024 in Sunrise, Florida. (Photo by Joel Auerbach/Getty Images)
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A Proven Southern Strategy
The NHL’s geographic footprint has shifted dramatically. In 1990, the league consisted of 21 teams, one-third of which were in Canada, with very little presence in the southern or western United States. Today, while seven Canadian teams remain, the league has successfully established roots in cities like Dallas, Denver, Raleigh, and Salt Lake City, as well as southern markets like Anaheim, Miami, Tampa, Nashville, and Las Vegas.
Despite criticism from traditionalists regarding the departure from established “hockey markets,” the strategy has yielded significant value. Youth hockey participation in the U.S. continues to climb, and college hockey viewership is at a decade-high.
The success of this non-traditional approach is reflected in recent championship matchups. In eight of the last nine Stanley Cup Finals, teams from Florida, Texas, Nevada, or North Carolina have been represented. This trend suggests that the league’s expansion into diverse markets is working.
EDMONTON, CANADA – MAY 27: Jason Robertson #21 of the Dallas Stars celebrates after his third goal with Tyler Seguin #91 of the Dallas Stars during the third period in Game Three of the Western Conference Final of the 2024 Stanley Cup Playoffs at Rogers Place on May 27, 2024 in Edmonton, Alberta, Canada. (Photo by Leila Devlin/Getty Images)
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The Texas Opportunity
The Dallas Stars have proven that Texas is a viable hockey market. Since relocating from Minnesota in 1993, the Stars have maintained strong attendance, often drawing capacity crowds in Dallas. The organization is regarded as one of the most stable and successful in the league.
In Austin, the Texas Stars have seen four consecutive seasons of attendance growth, frequently nearing capacity at the H-E-B Center. The primary challenge will be determining if Austin’s fanbase can scale to meet the much larger demands of an NHL franchise.
Houston offers established infrastructure via the Toyota Center, currently home to the NBA’s Rockets. However, the league will need to assess whether these new markets can capture enough local interest to sustain a franchise without simply cannibalizing the existing Dallas Stars fanbase.
The NHL has successfully managed similar market density before, such as in California with the Kings, Sharks, and Ducks. If Austin or Houston can leverage natural rivalries with Dallas, they may find the support necessary to thrive. For now, the NHL appears ready to make a significant bet on the Lone Star State.
