National Hockey League commissioner Gary Bettman (pictured) announced at a press conference on Wednesday that Las Vegas, Nevada will get the league's 31st franchise.

Billionaire Bill Foley will pay $500 million in expansion fees to bring the new team to Sin City.  The league has not expanded since 2000 when the Columbus Blue Jackets and Minnesota Wild joined the league.

The as-yet unnamed team will play their games in the new T-Mobile Arena, which seats over 17,000 people for hockey.

Las Vegas will join the league in time for the 2017-18 season.