The biggest hurdle is the arena. It cost something like $88 million just for the arena at PSU, something that would undoubtedly be $100+ million in NJ. The ONLY chance I see this happening is if there is a new multi-purpose arena built to replace the RAC, and it just doesn't seem like that is on the near horizon. Like I said though, even then you would need at least $20 million to endow the scholarships and even more money to pay for the coaches and training staff.Because the goal is to field winning teams, not just have teams. If the goal is to just have the team, then the club team already exists.
Also - you are kidding yourself if you think that the petitioners are going to come up with $2-3 million (renting the arena costs money. Travel will be slightly more expensive than PSU_Nuts numbers, since we are futher away) EVERY year. They almost surely wont come up with that money for just one year.
Like I said - its like the PAC idea. It seems great. There are dedicated and knowledgeable people working on the project. But for something like this you either need a sugar daddy, or an army of volunteers, and we almost surely have neither.
I doubt RU ever gets NCAA hockey. Too expensive. Not enough interest. Not enough chance of being good (NJ isnt Minnesota - there just arent enough recruits here to compete with the best in the biz.)
Rutgers needs to focus on the sports they already have. Enhance the facilities and get them all up to par for the Big Ten before even contemplating a hockey team. It probably shouldn't even be considered for 20 years.