Dan Friedkin nears record $3.5bn NHL expansion deal in Texas

NHL expansion talks have entered a new phase: billionaire Dan Friedkin, co-owner of the football clubs Roma and Everton, is close to securing exclusive rights to create a new hockey club in southern Texas. This would be the most expensive expansion deal in the league’s history — total costs are estimated at around $3.5 billion, or roughly 72 billion crowns.

NHL deputy commissioner Bill Daly, speaking at the league’s European media tour in Munich, confirmed that the parties have agreed on the basic framework of the deal, with binding agreements possibly signed as early as December this year. The new team is expected to take the ice in the 2029/30 season.

The league announced back in June that it was officially considering two Texas cities — Houston and Austin. According to Daly, Houston, as the state’s most populous city, remains the priority, though Austin is also seen as a serious alternative the ownership group is willing to consider.

It is the Friedkin family that holds the exclusive right to negotiate with the league over creating a new club in southern Texas. Dan Friedkin’s fortune, according to Forbes’ estimate, stands at $11.4 billion — more than 235 billion crowns, making him one of the most influential figures in global sports business.

The new club would become Texas’s second NHL team — the state’s only current franchise, the Dallas Stars, is known for fielding the league’s sole Czech player, Radek Faksa.

Amid the activity in the US, the question of NHL expansion into Canada remains open for now: Daly noted that Quebec could theoretically be a viable market, but it still lacks an ownership group ready to take over a club, and Canadian investor interest is generally weaker than in American cities.