The next time the NHL decides to add new teams, the expansion fee is expected to be $2 billion-plus, Sportico reported on Thursday.

While expansion isn’t imminent, the league updated team owners at their Wednesday meeting in Los Angeles regarding the expected price of a new club.

Per the report, the franchise fee would be a minimum of $2 billion, and incoming ownership groups would be required to set aside another $1 billion for potential arena costs.

NHL commissioner Gary Bettman said at the Los Angeles meetings, “We have no pending applications, and we’re not seeking to initiate a formal process at this point.”

Bettman did not comment on the reported expansion price tag.

Six possible expansion sites were mentioned at the meeting, according to Sportico.

The newest NHL franchise, the Seattle Kraken began play in 2021-22 after laying out a $650 million expansion fee. That was a significant leap from the $500 million it cost for the Vegas Golden Knights to found a club that first faced off 2017-18.

Cities that have publicly stated their interest in attracting an NHL club include Atlanta, Houston, New Orleans, Cincinnati, Kansas City and Omaha, Neb. Atlanta had two previous NHL teams that relocated to Calgary and Winnipeg.

–Field Level Media