I'm quite sorry. This discussion has compelled me to look more closely into the matter, and I have discovered both that I have had the wrong governmental entity and the incorrect details:
These seem to be the details:
The governmental entity in question is the Harris County Sports Authority, and the document in question is the Rockets' lease on Toyota Center.
Text in red from this website:
Toyota Center
Concerning competing venues:
*
Upon opening of the Arena, Compaq Center will not be used as commercially competing venue. The City and the Sports Authority agree not to finance any venue for arena-type events which would compete with the Arena. The Sports Authority agrees to assist the NBA Club in obtaining a release from the NBA Club's obligation to play its home games at Compaq Center after the end of the 2002/2003 NBA season
This seems to say that the County won't be offering any help to construct a competing arena. Since Harris County seems to hold jurisdiction over the city of Houston, that seems to mean that any new arena would need to be privately financed.
Concerning hockey in the Toyota Center:
*
If NHL hockey comes to Houston, the NHL Team is entitled to play its games in the Arena. The NHL Team to receive game-day revenue, but not naming rights, permanent advertising, suite premiums (other than incremental amounts paid by suite holders attributable to the NHL Team). The NHL Team may be asked to pay the Sports Authority a one-time "buy-in" payment and may receive a to-be determined operating payment from the Sports Authority. An NHL Team brought to the Arena that is affiliated with the NBA Club will not pay rent or receive the operating payment unless otherwise agreed.
This seems to say that the Rockets are entitled to all ancillary monies associated with Toyota Center. An NHL team would have to survive on game night revenues alone, and we all know that is difficult.
Put together, this basically means that, unless someone wants to privately finance a new arena in Harris County, Fertitta is the only available owner for an NHL Houston team.
Now, Montgomery County is the next county to the north, and it is home to The Woodlands, an affluent area which has developed out into its own economic engine. The same lease arrangements with the Rockets would not be in effect there.
And,
@mouser ....Thank you for causing me to dig more deeply into this.