The ability for the ceiling to rise by a minimum of $3 million is due to another increase in league revenues, which Bettman said is projected to hit around $4.85 billion this season, while hockey-related revenues are expected to reach $4.54 billion, an increase of 8.2 percent.
The ownership group includes David Bonderman who is a private equity CEO and Jerry Bruckheimer who is a Hollywood producer. The application allows the group to run season ticket drive.
Seattle Mayor Jenny Durkan on Wednesday signed an agreement with a developer to renovate KeyArena after city council approved a memorandum of understanding with Los Angeles-based Oak View Group to privately finance a roughly US$600-million remodel of the venue earlier this week.
Although Houston is not in the running to host the NHL's next expansion club, there are still several teams that could possibly relocate, but that option also took a hit on Thursday. "This is not a team that is being moved", Bettman said Thursday.
"Our plan is just to look at Seattle at this point", Bettman said.
The Eastern Conference has one more team than the Western Conference.
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Bettman said that apart from the salary cap update, Friday's agenda included the board of governors discussing business reports, the league's centennial celebration, games overseas, next season's schedule, esports endeavours, as well as player and puck tracking. Seattle's price tag is $650 million.
If approved, Seattle could become the 32nd team in the league.
The NHL previously deferred an application for expansion from Quebec City in June 2016.
An expansion in Seattle would put the National Hockey League at an even number of teams again at 32. " ... I think we'll see the launch right after the first of the year, because it's not a time right now to be launching that kind of campaign".
"I said yesterday I thought we were on the path, I didn't know it would happen so quickly", Durkan laughed.
"I don't have all of those in front of me, but we'll get them". However, he went on to say "But that's not something we're focused on right now because we don't anticipate anybody moving right now". "But it's also what's driving the motivation behind wanting a new arena downtown in a place that is more accessible".
"And Mr. Leiweke and his group, we're going to make sure they meet their benchmarks to sell the season tickets and the like". The only thing that kept it from happening was the lack of an arena deal. "We want to work together, so we're thinking about it".