from Rick Westhead of TSN,

The National Hockey League would likely command a record expansion fee worth as much as $1.2 billion for a second franchise in Toronto, sources tell TSN - a sum that would eclipse the previous North American sports record of $700 million that the Houston Texans paid to join the National Football League back in 1999.

While NHL commissioner Gary Bettman has insisted the league in not currently considering expansion or relocation, several senior NHL team sources said expansion - along with the league's strategy to grow international revenue - would be key topics during the NHL board of governors meetings on Sept. 30 in New York.

Five investment bankers who advise NHL team owners on the sales of franchises said it would only be a matter of time before the league entertains offers for another team in Toronto.

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