Expansion groups from Las Vegas, Quebec City meet with NHL
The next small step in the NHL's expansion application process took place Tuesday in New York.
The two final potential locations - the Bill Foley-led group from Las Vegas and the Quebecor Inc. group - met with the NHL's executive committee, according to Darren Dreger of TSN.
Foley released the following statement upon the completion of the meeting:
Today, we made a formal presentation to the NHL Executive Committee in New York City as part of our effort to secure an NHL team in Las Vegas. This meeting was the result of successfully completing three previous phases of the expansion application process.
We made it to this point because of the passionate fans that helped us secure more than 13,500 season ticket deposits and commitments. As we wait for a final decision, I want to thank the NHL for this opportunity and the season ticket holders who have clearly demonstrated that Vegas Wants Hockey!
As for Quebecor, the struggling Canadian dollar was addressed by former Prime Minister and current board member Brian Mulroney:
Quebecor's Mulroney claims the Quebec City bid "even with the exchange rate of (the Canadian dollar), we can handle the team." #nhl
— Mike Zeisberger (@Zeisberger) September 29, 2015
The executive committee will now report to the league's board of governors, NHL deputy commissioner Bill Daly told the Associated Press.
Both potential ownership groups are in the third stage of a process that would see expansion teams placed in Las Vegas and Quebec City.
No timetable has been set regarding either application, and commissioner Gary Bettman said at least one more meeting is required before any decisions are made.
Bettman says no timetable for expansion decision. Committee will meet at least once or twice more before decision, Bettman said.
— Helene Elliott (@helenenothelen) September 29, 2015
Bettman said that nothing, other than the requirement for a 75 percent vote in favor, is written in stone.
"No decisions were made at the executive committee," the commissioner told reporters, including TSN's Frank Seravalli. "This is an ongoing process that doesn't have a specific timetable."
However, the commissioner did essentially confirm that an expansion fee would be at least $500 million (U.S.).
He said the league listened to a study on the Canadian dollar from the Canadian Imperial Bank of Commerce, but cautioned that predicting the dollar's performance isn't easy.