I don't know why you believe the NHL could do this, to an owner, who does not want to sell his franchise.
Does anyone know of this exact scenario playing out, in the past, in the NHL?
I know that the Thrashers (multiple) owners had been trying to sell their franchise for about 6 years, after 2004-05 lockout was over and the franchises' value dropped during that time period ...... and there was a lot of infighting among the ownership group, and only ended up being relocated after the NHL understood that no one wanted to become partner, or tenant in an Arena that the owner placed the NBA franchise first, making the NH franchise unsalable in that market.