Red Wings get cash windfall from NHL's Seattle expansion

Red Wings get cash windfall from NHL's Seattle expansion

Red Wings get cash windfall from NHL's Seattle expansion

The figure is $150 million more than the Vegas Golden Knights paid to join the league for the 2017-2018 season. The ownership group is set to build a sprawling training center in the Northgate neighborhood that it hopes will become a hub for the growth of hockey in the region.

"Today is an exciting and historic day for our League as we expand to one of North America's most innovative, lovely and fastest-growing cities", Bettman said.

The Seattle franchise has yet to be named.

The to-be-named Seattle team will reside in the Pacific when it begins play in 2021, while the Coyotes will shift to the Central Division.

That's Detroit's share of the $650 million expansion fee that Texas private equity billionaire David Bonderman, 76, will pay to own the NHL's 32nd franchise.

For perspective, it took Vegas two days to hit 5,000 and 18 months to get to 16,000.

"Today is an exciting and historic day for our League as we expand to one of North America's most innovative, attractive and fastest-growing cities", NHL Commissioner Gary Bettman said in a statement.

WATCH BELOW: Seattle Hockey Partners video on KeyArena renovations.

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"We will keep the historic roof, and everything else will be new", Leiweke said, adding that construction begins tomorrow.

The new team gives the National Hockey League an even 16 franchises in the Eastern and Western conferences and will provide the Vancouver Canucks a natural geographic rival for the first time. The Central Division has seven teams and the Pacific Division has eight.

Judging on early graphics created by the NHL Seattle group, it appears that the new team will use red and black as its colors. This will cause a minor re-alignment for the league, with the Arizona Coyotes, who play most of their games in the Mountain Time Zone (the state of Arizona doesn't use Daylight Saving time), moving to the Central Division upon Seattle's arrival.

Seattle's mayor was first to make the announcement, before NHL Commissioner Gary Bettman could make it official.

Seattle will draft one player from every team's roster except for Las Vegas.

The new team's name has not yet been decided. "And we are thrilled that Seattle, a city with a proud hockey history that includes being the home for the first American team ever to win the Stanley Cup, is finally joining the NHL".

The NHL's launch in Seattle will show how starved fans are for another team.

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