Phoenix, Atlanta, and the Islanders are the most publicized hardship cases in the NHL. If I was to put money down on a team, it would be one of them, probably Phoenix. As for where it would move to, there's alot of options on the table.
Quebec and Winnipeg have made major overtures towards obtaining a team again (Quebec officials went so far as to meet with NHL executives to discuss the possibility of such a move being approved by the league should the city build that arena they're talking about). A second Toronto team would be nothing but good for the league, but the political clout of the Maple Leafs has been extremely successful in stopping those talks from going anywhere fruitful. Heading to the States, there have also been a number of reports in the past few years of potential owners wishing to move a team to Kansas City.
Another option further south is Houston, which supposedly generated a good deal of interest during all of the expansion in the '90s. Other (unlikely) possibilities include Milwaukee and Seattle. Both cities likely have a big enough population and enough of a hockey culture to support a team, but they both also face the problem of another team (Chicago and Vancouver, respectively) using their clout to block any new team invading "their" territory.
Obviously there are other possibilities, but those seven seem to be the best bets.
Well there is no way of actually calculating or determining this, Phoenix is in the most precarious situation right now and has been rumored to be moving for a few years now. Some of the other franchises that have had rumors attached to them as of recently are all southern based teams who don't have the financial support like most of the other teams. Some of these include the Nashville Predators, Atlanta Thrasers and recently with attendance issues, the Carolina Hurricanes.
Again there is no way of predicting which city will be next in line either. Quebec City is pushing very hard to make a bid right now. As is Winnipeg.
(Both cities have already hosted an NHL team before). Las Vegas has been rumored for a while now and there are many people who want to see a team in Seattle to rival the Canucks and another team in Southern Ontario (ie, Hamilton, Kitchener-Waterloo, or even a second Toronto team) to rival the Maple Leafs. Going for more of a stretch, there is also always the odd talk of Kansas City and Hartford reviving their NHL teams.
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