The NHL has officially awarded the city of Seattle an NHL expansion team that will begin competition in the 2021-2022 season. The team will play in Seattle’s KeyArena following an $800 million redevelopment of the venue.
Oak View Group has been named the arena developer and responsible for financing the renovation project, which was originally projected to cost $700 million. Costs have increased to $800 million after bridge seating and additional video boards were added to the project, which ranks second in investment only to Madison Square Garden ($1 billion). Tod Leiweke, recently named CEO and President of NHL Seattle, says the project will be completed in early 2021.
Along with the yet to be named NHL franchise, the venue will also be home to the WNBA’s Seattle Storm.