Dallas Stars submit letter of intent for move to Plano in 2031

Big news broke on Tuesday evening, as the Dallas Stars announced they had submitted a letter of intent for a potential move to Plano when their current lease at American Airlines Center ends in 2031.

Lia Assimakopoulos broke the news first, followed by this official team statement:

The Dallas Stars announced today a major step towards a potential new arena in Plano as part of a proposed sports and entertainment district at The Shops at Willow Bend. The organization has signed a non-binding Letter of Intent (LOI), which has been submitted to the City of Plano and placed on the agenda for consideration at the Plano City Council meeting on Monday, June 8.

Located west of the Dallas North Tollway, the proposed mixed-use development, being advanced jointly with Levin Holdings & Cawley Partners and Centennial, could include sports, entertainment, retail, dining and public gathering spaces anchored by a future Dallas Stars arena. The project is envisioned as a year-round destination for the community while strengthening the team’s connection to its North Texas fan base.

“This project would present a once-in-a-lifetime opportunity for our franchise,” Dallas Stars Owner, Governor and Chairman Tom Gaglardi said. “We eagerly await the vote by the Plano City Council and look forward to continuing the conversation to be part of the redevelopment of The Shops at Willow Bend.”

The Letter of Intent includes plans for the mixed-used development project as well as design and construction of the arena.

“Plano has built a reputation as a city that welcomes world-class partners and community-focused investment,” Plano Mayor John Muns said. “The Dallas Stars are an iconic North Texas organization, and we are encouraged by their interest as conversations move forward.”

Since moving to North Texas in 1993, the Dallas Stars have played a transformative role in the growth of hockey in the southern United States through grassroots efforts, community involvement and unmatched fan support. Over the last 33 years, the club has made 21 playoff appearances, won nine division titles, captured two Presidents’ Trophies, three conference championships and won the 1999 Stanley Cup.

The city of Plano will put it to a vote at Monday’s City Council meeting, but the proposal would see Plano pay $700 million of the estimated $1 billion build for a new arena and entertainment district. This is expected to feature bars, restaurants, hotels, and more, which is all part of the 365 revenue that Dallas is seeking. Currently, the team does not see any revenue outside of the AAC on game day.

The initial proposal is reportedly for a 30-year lease in the new arena and district, which would be built where the Shops at Willow Bend currently sit.

We dove into this extensively on Wednesday’s DLLS Stars podcast and will continue to do so as the story progresses.