Story highlights Principal owner tells fans the yet-to-be-named team will be built to win

Quebec City will have to try again to land an expansion team

(CNN) Las Vegas will get its first major professional sports league team in 2017 with an NHL expansion franchise, Commissioner Gary Bettman announced Wednesday.

With the addition of the Las Vegas franchise, the National Hockey League will have 31 teams.

Principal owner Bill Foley, a Las Vegas businessman, and his partners will pay a $500 million expansion fee for the franchise.

"The first thing we're going to do is to establish what the culture is going to be for this team," Foley said. "This team is going to be a team built to win. We're going to take care of our hockey players in every way possible."

The team doesn't have a name yet. Foley, a graduate of West Point, said he loves the nickname of his alma mater, the Army Black Knights. But the team will work with the league to consider several ideas for names, he said.

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