In addition to the issues Nik points out, the BoG will undoubted be very concerned about the viability of these teams. They have to consider what sort of impact that the potential for these teams to need to revenue sharing handouts could dig into their bottom line, and I also imagine they're very wary of any new team becoming a Phoenix/Florida/Atlanta type situation that could leave the league with another potential revenue blackhole/albatross to deal with. It's easy to say "there's no way these guys will turn down a billion dollars," but, really, it's actually $33.3M per team. Despite some of the tactics they've chosen with their hockey teams, most of the owners have pretty solid business acumens and can look past the initial windfall to see the bigger picture - and there's a very real chance they won't like what they see.