A day after the Dallas Mavericks announced plans to leave Victory Park for a new arena, the Dallas Stars confirmed they want to relocate to Plano.

The Stars announced Tuesday that they submitted plans to the city of Plano for a mixed-use development project and designs for a new arena.

According to a press release, the organization signed a non-binding letter of intent, and the proposal is on the agenda for consideration at the Plano City Council meeting on Monday, June 8.

“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-use development project and arena designs.

“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.”

The Stars have been in Dallas since 1993 and have played at the American Airlines Center for more than two decades. Both the Stars and the Mavericks’ leases at the AAC are due to expire in 2031.

The Stars have been exploring other options for quite some time, as well as dealing with legal litigations between the Mavericks over the shared space at the AAC. The Stars looked at several other cities like Frisco, The Colony, Arlington and Fort Worth before landing on Plano as the frontrunner, according to The Dallas Morning News.

Those closely watching this project say the new arenas in new areas just all comes down to business.

“They’ll get all the parking surrounding it. If there are bars that open around that area, they will be paying the Mavericks and the Stars rent. So from a revenue perspective, it’s an excellent play for the teams. So that’s why they’re doing it,” said Gavin Spittle with 105.3 The Fan. “And it’s not just a Dallas-Fort Worth issue. This is happening across the country as more and more teams want their own suites, want their parking. They want the entire pie.”

The city of Dallas issued a statement after the Stars’ announcement, expressing interest in wanting to keep the team in Dallas.

“We have met with the Dallas Stars and learned they have signed a non-binding letter of intent related to a potential arena project in Plano. The Stars have been an important part of our city and community, and we value our longstanding partnership. We will continue conversations with the organization and work collaboratively to ensure the Stars remain playing in Dallas, where generations of fans have built lasting memories since 1993,” said Dallas City Manager Kimberly Bizor Tolbert in the statement to NBC 5.