I doubt it will surpass the NHL, the major flaw it has is that a majority (strong majority) of the World's best are Canadian, so this would mean we would see less Eastern Europeans in the league for sure, but as for our competitive level I think it will always be the top.
I wonder if the start of an international European league is finally going to move the NHL into Gordo's wet dream for hockey. I remember back at hockeyforums.com he would often mentioned the NHL evolving into the two league system, Euro and North American, they would play separately, and their champions would meet in the final, but of course both leagues would have to shave off the fat, a 60 team league would be too large. It would be interesting to see if the NHL will be able to absorb the kHL like they did the WHL.
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