Texas billionaire makes Austin investment as NHL expansion race heats up
The state capital is making inroads with the group deciding whether Houston or Austin should become the NHL’s next home.
By Eddie Maisonet,
Sports Editor
Aug 10, 2026
https://www.chron.com/sports/article/austin-houston-nhl-expansion-team-friedkin-22381680.php
The National Hockey League has made it clear that the league's 33rd team will be in Texas, and while Houston is the clear favorite to land an expansion franchise, it looks as if the state capital is making some inroads.
In June, NHL Commissioner Gary Bettman signed off on a six-month exploratory window with Texas billionaire Dan Friedkin and his global multi-club ownership and management company, Pursuit Sports, to assess market viability and arena possibilities in the Lone Star State. According to Austin Business Journal's Justin Sayers, Friedkin's group has signed an office lease in Austin, and Pursuit Sports CEO David Beeston is expected to spend significant time in the city for the foreseeable future as negotiations continue.
"I'm really pleased that the Friedkin group and Pursuit Sports are giving us a shot in this," Visit Austin CEO Tom Noonan said to the Austin Business Journal. According to Sayers, Visit Austin and Beeston have already had introductory conversations as the city's marketing organization prepares to make its pitch to Pursuit.
Stakeholders note that Austin currently sits at "ground zero" for a facility, with the most viable immediate option being the Moody Center, a 15,000-seat multipurpose arena on the campus of the University of Texas at Austin. The arena can technically accommodate hockey configurations; however, a dedicated venue or new construction would likely be needed to secure the NHL's green light.
New NHL team would 'require' new arena
NHL officials have stated a desire to lock in an expansion decision by the end of the year, with the new franchise kicking off its inaugural season by 2029 or 2030. For Friedkin and Pursuit Sports, the total projected cost for acquiring a new franchise ranges between an estimated $2 billion—the current cost of an NHL expansion fee—and upwards of $3.5 billion, including the cost to construct a new arena.
"That's part of the process is to determine what would be best, both for the league and for Dan Friedkin and family," Bettman said in June. "Both [Austin and Houston] will require a new arena. It may be more feasible in one place than the other. And as we dig a little deeper and do the due diligence, we'll figure out which makes the most sense."
Houston currently has Toyota Center as an immediate option, so a longer-term play could be in store if Friedkin elects to stay in his home city. However, would Austin, and possibly Travis County, be so inclined to assist with providing taxpayer funds to launch a standalone arena for Friedkin and Pursuit Sports? Friedkin's group already has three soccer clubs under ownership, including Everton in the English Premier League, AS Roma in Itay's Serie A, and AS Cannes in France's Ligue 3.
"Each city brings unique attributes that would make a new team a huge success—both have the infrastructure, passionate fan bases and economic strength needed to support a championship-caliber franchise for years to come," the Friedkin family said in a statement back in June, referencing Austin and Houston. "We have wanted for some time to bring an NHL team to Texas, and we are excited that the process has now begun."
Friedkin has been involved in multiple American sports ownership pursuits but has ultimately been outbid in buying teams like the Rockets and the NBA's Boston Celtics, along with MLB's San Diego Padres.
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