Andrews, who will retire June 30 after 26 seasons, was giving his final state of the league address hours before the AHL All-Star Challenge (10 p.m. ET; TSN, NHLN), a 3-on-3, round-robin tournament between the league's four divisions (Atlantic, North, Central, and Pacific).
"Vegas has an interest in buying an AHL team," Andrews said. "They are in discussion with some of our owners about potentially buying a franchise. It is not at the point where anything is in front of me or in front of our [Board of Governors]."
The Golden Knights have been affiliated with Chicago since entering the NHL as an expansion team in 2017. Last season, Chicago advanced to the Calder Cup Finals before losing in five games to Charlotte (Carolina Hurricanes).
"I think that at some point there will be an [AHL] team in Vegas, or [the Golden Knights] will own a team," Andrews said before adding that to make a move feasible for next season, "it would have to happen pretty soon."
Andrews also said he expects Palm Springs, which will be the home of the AHL affiliate for the Seattle NHL expansion team, to break ground on a new arena and practice facility "within the next month or so."