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FORSYTH COUNTY, Ga. – Forsyth County is actively campaigning to secure the NHL\u2019s 33rd franchise with a newly approved arena and massive mixed-use development.<\/p>\n
Local officials have already green-lit The Gathering at South Forsyth, a multi-billion-dollar project that features a state-of-the-art arena at its center. However, the developer warns that the entry fee for an expansion team has skyrocketed.<\/p>\n
Paying double for an NHL team? <\/p>\n
What we know:<\/p>\n
The reported price tag for a new franchise has reached $2 billion, nearly double the combined cost of the league’s two most recent expansion teams, the Vegas Golden Knights and the Seattle Kraken.<\/p>\n
Vernon Krause is still confident his group will land an NHL franchise. Krause says he\u2019s still negotiating with the NHL to bring a pro team back to metro Atlanta.<\/p>\n
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The Gathering in Forsyth County. Courtesy photo.\u00a0 <\/p>\n
\u2018The franchise fee has risen\u2019 <\/p>\n
What they’re saying:<\/p>\n
“We are in constant communication with the NHL,” said Krause, President and CEO of Krause Sports and Entertainment. The group is developing The Gathering at South Forsyth. The county last summer approved the multi-billion-dollar, 18,500-seat arena about a mile from Georgia Highway 400. But the cost to land the league\u2019s 33rd\u00a0team has skyrocketed, reportedly to at least $2 billion.\u00a0<\/p>\n
“The franchise fee has risen,” Krause said. “We\u2019re operating under the assumption that\u2019s what it\u2019s going to be. That\u2019s what we\u2019re going to our investors with.”<\/p>\n
The Vegas Golden Knights cost $500 million in 2016, the Seattle Kraken, $650 million in 2018. A new NHL team now would cost nearly double the combined price for the two newest expansion\u00a0franchises.<\/p>\n
When asked if that is a reasonable price, Krause responded, “I\u2019m sure they think that it is.”<\/p>\n
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The Gathering in Forsyth County. Courtesy photo.\u00a0 <\/p>\n
Krause, an auto dealership entrepreneur, likened negotiations to buying a car. “You always want to pay less than that and the dealer wants a little more.”<\/p>\n
When asked if his group would be able to come up with $2 billion, Krause answered, “We think so, yes, we do.”<\/p>\n
When asked what would happen if his team couldn’t raise $2 billion, Krause responded, “Then we won\u2019t get an NHL franchise.”\u00a0<\/p>\n
He added that The Gathering would still move forward.<\/p>\n
‘These standards reflect an ongoing evolution’ <\/p>\n
Local perspective:<\/p>\n
Forsyth County Chairman Alfred John on Tuesday sent out a statement:\u00a0<\/p>\n
“\u2026the NHL has implemented updated expansion criteria, establishing a specific set of requirements that prospective markets must satisfy to be considered. These standards reflect an ongoing evolution in the league\u2019s process, and we remain actively engaged with all relevant parties, with the full support of the Forsyth County Development Authority and the Forsyth County school board, to finalize an arrangement that not only fully complies with NHL guidelines but also best serves the interests of Forsyth County residents.”<\/p>\n
The county chairman was unavailable for an interview on Tuesday, but he pointed to improvements in Georgia 400 as encouraging developments.<\/p>\n
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The Gathering in Forsyth County. Courtesy photo.\u00a0 <\/p>\n
What does the NHL say? <\/p>\n
The other side:<\/p>\n
FOX 5 called, texted and emailed the NHL and is awaiting a response.<\/p>\n
What about the North Point Mall proposal? <\/p>\n
What we know:<\/p>\n
The NHL has also met with the Alpharetta Sports & Entertainment Group, a rival bid led by former NHL player Anson Carter. It remains unclear if the league would favor the Forsyth site over the Alpharetta proposal, which sits just six miles south.<\/p>\n
What is The Gathering at Forsyth? <\/p>\n
The backstory:<\/p>\n
The Gathering at South Forsyth<\/a> is a proposed multi-billion-dollar mixed-use “live-work-play” development located on 102 acres in South Forsyth County. Positioned near the intersection of Ronald Reagan Boulevard and Union Hill Road, roughly one mile from Georgia Highway 400, the project is designed to be a premier entertainment destination anchored by an 18,500-seat arena capable of hosting a National Hockey League (NHL) franchise.<\/p>\n The Gathering in Forsyth County. Courtesy photo.\u00a0 <\/p>\n The development is led by Krause Sports and Entertainment<\/a>, headed by local auto dealership entrepreneur Vernon Krause. The vision is to create a community asset that rivals Truist Park\u2019s “The Battery,” featuring a blend of hotels, residential units, retail spaces, and restaurants.<\/p>\n FOX 5 first reported the project as an ambitious attempt to fill the vacuum left by the Atlanta Thrashers<\/a>, who departed in 2011. Krause emphasized that the development would be a cultural landmark, not just a sports venue. Unlike previous downtown arenas, this project specifically targets the affluent suburban demographics of the North Metro area.<\/p>\n A pivotal moment in the project’s history occurred during a Forsyth County Commissioners meeting where a 4-1 vote<\/a> was held to move the project forward. However, the vote included unexpected, last-minute changes to the Memorandum of Understanding (MOU). Krause was “shocked and extremely disappointed,” stating the county was “moving the goal line”<\/a> by adding requirements not agreed upon by the negotiation team. Krause briefly threatened to end his efforts if a “binding MOU with firm commitments” could not be reached.<\/p>\n The Gathering in Forsyth County. Courtesy photo.\u00a0 <\/p>\n Addressing taxpayer concerns, the project is intended to be self-funded through a Tax Allocation District (TAD)<\/a>. This means the infrastructure and arena would be paid for using real estate tax revenue generated specifically by the new buildings on the site, rather than drawing from the county’s general fund. Taxpayers were promised they “will not be paying for a thing” regarding the site\u2019s development.<\/p>\n The Forsyth County Commission officially green-lit the project by approving the final agreements for the $3 billion development.<\/a> This move was described as making the site “NHL-ready,” providing the developer with the necessary legal and financial framework to formally petition the NHL for an expansion team.<\/p>\n The project’s timeline explained <\/p>\n Timeline:<\/p>\n April 17, 2023: Vernon Krause officially announces The Gathering at South Forsyth, a $2 billion mixed-use project aimed at luring the NHL back to Atlanta.<\/p>\n Late 2023: NHL analysts report the league is “warming” to Atlanta, specifically praising Forsyth County’s demographics.<\/p>\n January 2024: Forsyth County Commissioners vote 4-1 to move forward, initially pledging up to $390 million in public funds, but only if an NHL team is secured.<\/p>\n March 2024: Tensions rise as the county slashes potential public contribution to $225 million and adds stricter benchmarks.<\/p>\n Spring 2024: A rival bid emerges from Alpharetta Sports & Entertainment Group for a site at North Point Mall.<\/a><\/p>\n June 11, 2025: Forsyth County unanimously approves final operating agreements and funding.<\/p>\n November 2025: Residents vote in favor of granting the county redevelopment powers to fund the arena’s infrastructure via a special tax district.<\/p>\n January 2026: Reports surface that the NHL expansion fee for the 33rd team has officially jumped to $2 billion.<\/p>\n February 2026: Vernon Krause confirms he is still negotiating but admits the cost has skyrocketed.<\/p>\n The Source: The details in the story come from Vernon Krause, President and CEO of Krause Sports and Entertainment, and Alfred John, Chairman of the Forsyth County Board of Commissioners. Previous FOX 5 Atlanta reporting was also used.<\/p>\n Forsyth County<\/a>NHL<\/a>Real Estate<\/a>News<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"FORSYTH COUNTY, Ga. – Forsyth County is actively campaigning to secure the NHL\u2019s 33rd franchise with a newly…\n","protected":false},"author":2,"featured_media":461668,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[3],"tags":[3736,14152,14151,5,40,4,4088,1321],"class_list":["post-461667","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nhl","tag-consumer","tag-forsyth-county","tag-ga","tag-hockey","tag-news","tag-nhl","tag-real-estate","tag-us"],"share_on_mastodon":{"url":"https:\/\/channels.im\/@nhl\/116089829473904714","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/posts\/461667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/comments?post=461667"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/posts\/461667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/media\/461668"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/media?parent=461667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/categories?post=461667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/nhl\/wp-json\/wp\/v2\/tags?post=461667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.rawchili.com\/nhl\/wp-content\/uploads\/2026\/02\/p-nhl-_-the-gathering-update-11p_00.00.55.02.jpg\")
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