07/22/2015
NHL receives expansion bids from Las Vegas, Quebec City
As part of their application, bidders were required to submit a $10 million down payment, $2 million of which was nonrefundable. There are at least two more steps in the expansion process, and the bids require approval from the NHL's Board of Governors.
The league doesn't anticipate expanding before the 2017-18 season and NHL Commissioner Gary Bettman has proposed an expansion fee of at least $500 million. That's a significant jump from the $80 million fee paid by the Columbus Blue Jackets and Minnesota Wild, when the NHL last expanded to 30 teams in 2000.
Without going into specifics, the NHL said it received and responded to application requests from 16 separate groups since the process opened July 6.
The league placed an emphasis on groups having the financial capacity to establish a franchise, as well as an arena either in place or under construction.
"Our purpose in initiating the expansion process in the manner we did was not only to explore the possibility of admitting new members to the NHL but also to set out realistic guideposts to distinguish between bona fide expressions of interest from those indications of potential interests which were, at best, merely hopes or aspirations," the league said.