Forbes list of the most valuable NHL clubs
![]() | This article needs to be updated.(December 2023) |

Forbes compiles the finances of all 32 NHL teams to produce an annual ranking of the best franchises in terms of valuation. The valuations are composed of the monetary worth of the sport, market, stadium deals, and brand.[1] These areas are supported by applying financial metrics such as debt and operating income to each one.[2]
The latest ranking reported that the New York Rangers is the most valuable NHL franchise after the 2021–22 NHL season.[3] The fastest growing NHL franchise is the Edmonton Oilers, with a 136.1% increase in valuation since the 2017–18 NHL season ($0.575 billion to $1.275 billion).[4] The Rangers have been the most valuable NHL team since the 2014–15 NHL season, totaling up to eight consecutive years.[5]
Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as CBS and Bleacher Report.[6][7] The NHL has consistently published news about the rankings since the early renditions.[8][9] The report has also applied more context to NHL trends, such as the Edmonton Oilers doubling in value in just one year.[10] Particularly, the Oilers have recently been clinching the playoffs consistently that aligns well with the opening of Rogers Place and new media deals.[11][12][13]
Ranking
[edit]Rankings as of December 14, 2022 (2021–22 NHL season)[2]
Rank | Swing[a] | Team | Territory | Value[b] | Change[c] | Debt[d] | Revenue[e] | Operating Income[f] |
---|---|---|---|---|---|---|---|---|
1 | ![]() |
New York Rangers | ![]() |
$2.2 billion | ![]() |
1% | $249 million | $90 million |
2 | ![]() |
Toronto Maple Leafs | ![]() |
$2 billion | ![]() |
10% | $248 million | $116 million |
3 | ![]() |
Montreal Canadiens | ![]() |
$1.85 billion | ![]() |
12% | $239 million | $110 million |
4 | ![]() |
Chicago Blackhawks | ![]() |
$1.5 billion | ![]() |
7% | $222 million | $92 million |
5 | ![]() |
Boston Bruins | ![]() |
$1.4 billion | ![]() |
7% | $218 million | $57 million |
6 | ![]() |
Los Angeles Kings | ![]() |
$1.3 billion | ![]() |
8% | $249 million | $88 million |
7 | ![]() |
Edmonton Oilers | ![]() |
$1.275 billion | ![]() |
6% | $230 million | $87 million |
8 | ![]() |
Philadelphia Flyers | ![]() |
$1.25 billion | ![]() |
8% | $190 million | $35 million |
9 | ![]() |
Washington Capitals | ![]() |
$1.2 billion | ![]() |
9% | $192 million | $55 million |
10 | ![]() |
Seattle Kraken | ![]() |
$1.05 billion | ![]() |
44% | $191 million | $67 million |
11 | ![]() |
Detroit Red Wings | ![]() |
$1.03 billion | ![]() |
9% | $187 million | $61 million |
12 | ![]() |
New York Islanders | ![]() |
$1.02 billion | ![]() |
32% | $181 million | $35 million |
13 | ![]() |
Vancouver Canucks | ![]() |
$1.01 billion | ![]() |
12% | $187 million | $58 million |
14 | ![]() |
Tampa Bay Lightning | ![]() |
$1 billion | ![]() |
14% | $187 million | $27 million |
15 | ![]() |
Pittsburgh Penguins | ![]() |
$0.99 billion | ![]() |
20% | $187 million | $37 million |
16 | ![]() |
Vegas Golden Knights | ![]() |
$0.965 billion | ![]() |
16% | $198 million | $64 million |
17 | ![]() |
New Jersey Devils | ![]() |
$0.960 billion | ![]() |
15% | $191 million | $37 million |
18 | ![]() |
Dallas Stars | ![]() |
$0.925 billion | ![]() |
17% | $187 million | $43 million |
19 | ![]() |
St. Louis Blues | ![]() |
$0.88 billion | ![]() |
14% | $180 million | $56 million |
20 | ![]() |
Colorado Avalanche | ![]() |
$0.86 billion | ![]() |
32% | $178 million | $43 million |
21 | ![]() |
Calgary Flames | ![]() |
$0.855 billion | ![]() |
14% | $178 million | $41 million |
22 | ![]() |
Minnesota Wild | ![]() |
$0.85 billion | ![]() |
19% | $169 million | $40 million |
23 | ![]() |
Nashville Predators | ![]() |
$0.81 billion | ![]() |
19% | $169 million | $35 million |
24 | ![]() |
Ottawa Senators | ![]() |
$0.8 billion | ![]() |
25% | $157 million | $47 million |
25 | ![]() |
San Jose Sharks | ![]() |
$0.74 billion | ![]() |
14% | $150 million | $6.7 million |
26 | ![]() |
Anaheim Ducks | ![]() |
$0.725 billion | ![]() |
34% | $158 million | $44 million |
27 | ![]() |
Winnipeg Jets | ![]() |
$0.65 billion | ![]() |
27% | $149 million | $22 million |
28 | ![]() |
Carolina Hurricanes | ![]() |
$0.64 billion | ![]() |
23% | $159 million | $18 million |
29 | ![]() |
Columbus Blue Jackets | ![]() |
$0.62 billion | ![]() |
22% | $144 million | $31 million |
30 | ![]() |
Buffalo Sabres | ![]() |
$0.61 billion | ![]() |
21% | $143 million | $20 million |
31 | ![]() |
Florida Panthers | ![]() |
$0.55 billion | ![]() |
30% | $137 million | $4.7 million |
32 | ![]() |
Arizona Coyotes | ![]() |
$0.45 billion | ![]() |
69% | $127 million | $5.8 million |
Composition
[edit]A pie chart that represents the composition of valuation for the average NHL club.
Team[g] | Value[b] | Sport[h] | Market[i] | Stadium[j] | Brand[k] |
---|---|---|---|---|---|
New York Rangers | $2.2 billion | $0.252 billion | $1.038 billion | $0.632 billion | $0.279 billion |
Toronto Maple Leafs | $2 billion | $0.239 billion | $0.937 billion | $0.536 billion | $0.289 billion |
Montreal Canadiens | $1.85 billion | $0.239 billion | $0.944 billion | $0.427 billion | $0.241 billion |
Chicago Blackhawks | $1.5 billion | $0.23 billion | $0.679 billion | $0.407 billion | $0.184 billion |
Boston Bruins | $1.4 billion | $0.22 billion | $0.581 billion | $0.42 billion | $0.179 billion |
Los Angeles Kings | $1.3 billion | $0.149 billion | $0.535 billion | $0.446 billion | $0.171 billion |
Edmonton Oilers | $1.275 billion | $0.186 billion | $0.605 billion | $0.295 billion | $0.189 billion |
Philadelphia Flyers | $1.25 billion | $0.24 billion | $0.501 billion | $0.365 billion | $0.145 billion |
Washington Capitals | $1.2 billion | $0.214 billion | $0.52 billion | $0.286 billion | $0.18 billion |
Seattle Kraken | $1.05 billion | $0.191 billion | $0.428 billion | $0.272 billion | $0.159 billion |
Detroit Red Wings | $1.03 billion | $0.245 billion | $0.411 billion | $0.228 billion | $0.146 billion |
New York Islanders | $1.02 billion | $0.206 billion | $0.412 billion | $0.268 billion | $0.134 billion |
Vancouver Canucks | $1.01 billion | $0.24 billion | $0.433 billion | $0.202 billion | $0.135 billion |
Tampa Bay Lightning | $1 billion | $0.238 billion | $0.379 billion | $0.272 billion | $0.111 billion |
Pittsburgh Penguins | $0.99 billion | $0.194 billion | $0.4 billion | $0.256 billion | $0.141 billion |
Vegas Golden Knights | $0.965 billion | $0.168 billion | $0.407 billion | $0.268 billion | $0.123 billion |
New Jersey Devils | $0.96 billion | $0.209 billion | $0.359 billion | $0.271 billion | $0.121 billion |
Dallas Stars | $0.925 billion | $0.22 billion | $0.383 billion | $0.198 billion | $0.124 billion |
St. Louis Blues | $0.88 billion | $0.252 billion | $0.313 billion | $0.203 billion | $0.112 billion |
Colorado Avalanche | $0.86 billion | $0.249 billion | $0.302 billion | $0.199 billion | $0.11 billion |
Calgary Flames | $0.855 billion | $0.247 billion | $0.346 billion | $0.166 billion | $0.096 billion |
Minnesota Wild | $0.85 billion | $0.258 billion | $0.296 billion | $0.195 billion | $0.101 billion |
Nashville Predators | $0.81 billion | $0.257 billion | $0.266 billion | $0.19 billion | $0.096 billion |
Ottawa Senators | $0.8 billion | $0.293 billion | $0.238 billion | $0.152 billion | $0.116 billion |
San Jose Sharks | $0.74 billion | $0.293 billion | $0.221 billion | $0.168 billion | $0.057 billion |
Anaheim Ducks | $0.725 billion | $0.263 billion | $0.224 billion | $0.147 billion | $0.091 billion |
Winnipeg Jets | $0.65 billion | $0.26 billion | $0.203 billion | $0.124 billion | $0.063 billion |
Carolina Hurricanes | $0.64 billion | $0.223 billion | $0.214 billion | $0.128 billion | $0.075 billion |
Buffalo Sabres | $0.61 billion | $0.263 billion | $0.193 billion | $0.1 billion | $0.053 billion |
Florida Panthers | $0.55 billion | $0.247 billion | $0.156 billion | $0.096 billion | $0.052 billion |
Arizona Coyotes | $0.45 billion | $0.236 billion | $0.117 billion | $0.061 billion | $0.036 billion |
Historical valuations
[edit]Team | 2022–23 | 2021–22 | 2020–21 | 2019–20 | 2018–19 | 2017–18 | 2016–17 | 2015–16 | 2014–15 | 2013–14 | 2012–13 |
---|---|---|---|---|---|---|---|---|---|---|---|
Toronto Maple Leafs | 2,800 | 2,000 | 1,800 | 1,500 | 1,500 | 1,500 | 1,400 | 1,100 | 1,200 | 1,300 | 1,200 |
New York Rangers | 2,650 | 2,200 | 2,000 | 1,700 | 1,700 | 1,600 | 1,500 | 1,300 | 1,200 | 1,100 | 850 |
Montreal Canadiens | 2,300 | 1,850 | 1,600 | 1,300 | 1,300 | 1,300 | 1,300 | 1,100 | 1,200 | 1,000 | 775 |
Los Angeles Kings | 2,000 | 1,300 | 1,025 | 825 | 850 | 810 | 750 | 600 | 580 | 580 | 450 |
Boston Bruins | 1,900 | 1,400 | 1,300 | 1,000 | 1,000 | 925 | 890 | 800 | 750 | 750 | 600 |
Chicago Blackhawks | 1,875 | 1,500 | 1,400 | 1,100 | 1,100 | 1,100 | 1,000 | 925 | 925 | 825 | 625 |
Edmonton Oilers | 1,850 | 1,275 | 1,100 | 550 | 575 | 540 | 520 | 445 | 455 | 475 | 400 |
Philadelphia Flyers | 1,650 | 1,250 | 1,200 | 800 | 825 | 800 | 740 | 720 | 660 | 625 | 500 |
Washington Capitals | 1,600 | 1,200 | 930 | 750 | 775 | 725 | 625 | 575 | 565 | 500 | 414 |
New York Islanders | 1,550 | 1,020 | 950 | 520 | 520 | 440 | 395 | 385 | 325 | 300 | 195 |
New Jersey Devils | 1,450 | 960 | 775 | 530 | 550 | 455 | 400 | 320 | 330 | 330 | 320 |
Vancouver Canucks | 1,325 | 1,010 | 825 | 725 | 740 | 735 | 730 | 700 | 745 | 800 | 700 |
Tampa Bay Lightning | 1,250 | 1,000 | 650 | 470 | 470 | 445 | 390 | 305 | 260 | 230 | 180 |
Seattle Kraken | 1,225 | 1,050 | 875 | 0[l] | 0[l] | 0[l] | 0[l] | 0[l] | 0[l] | 0[l] | 0[l] |
Detroit Red Wings | 1,200 | 1,030 | 990 | 775 | 800 | 775 | 700 | 625 | 600 | 570 | 470 |
Pittsburgh Penguins | 1,175 | 990 | 900 | 650 | 665 | 650 | 650 | 570 | 560 | 565 | 480 |
Colorado Avalanche | 1,150 | 860 | 630 | 465 | 475 | 430 | 385 | 360 | 360 | 360 | 337 |
Vegas Golden Knights | 1,125 | 965 | 710 | 570 | 580 | 575 | 500 | 0[l] | 0[l] | 0[l] | 0[l] |
Calgary Flames | 1,100 | 855 | 680 | 480 | 500 | 450 | 430 | 410 | 435 | 451 | 420 |
Dallas Stars | 1,080 | 925 | 720 | 575 | 600 | 525 | 515 | 500 | 450 | 420 | 333 |
Minnesota Wild | 1,050 | 850 | 675 | 500 | 510 | 490 | 440 | 400 | 380 | 370 | 330 |
St. Louis Blues | 990 | 880 | 640 | 510 | 530 | 465 | 450 | 310 | 270 | 235 | 185 |
Nashville Predators | 975 | 810 | 600 | 435 | 460 | 425 | 380 | 270 | 255 | 250 | 205 |
Ottawa Senators | 950 | 800 | 525 | 430 | 445 | 435 | 420 | 355 | 370 | 400 | 380 |
Anaheim Ducks | 925 | 725 | 620 | 460 | 480 | 460 | 460 | 415 | 400 | 365 | 300 |
San Jose Sharks | 900 | 740 | 625 | 515 | 540 | 510 | 490 | 470 | 445 | 425 | 405 |
Carolina Hurricanes | 825 | 640 | 550 | 440 | 450 | 420 | 370 | 230 | 225 | 220 | 187 |
Winnipeg Jets | 780 | 650 | 575 | 405 | 420 | 415 | 375 | 340 | 350 | 358 | 340 |
Florida Panthers | 775 | 550 | 450 | 295 | 310 | 295 | 305 | 235 | 186 | 190 | 240 |
Columbus Blue Jackets | 765 | 620 | 475 | 310 | 325 | 320 | 315 | 245 | 226 | 200 | 175 |
Buffalo Sabres | 750 | 610 | 500 | 385 | 400 | 375 | 350 | 300 | 300 | 288 | 250 |
Arizona Coyotes | 500 | 450 | 400 | 285 | 300 | 290 | 300 | 240 | 220 | 225 | 200 |
Notes
[edit]- ^ Movement of spots in the ranking from the 2017–18 NHL season to the 2021–22 NHL season.
- ^ a b Value of team (in USD) based on current stadium deal (unless new stadium is pending), without deduction for debt (other than stadium debt).
- ^ Change of valuation from the 2016–17 NHL season to the 2020–21 NHL season.
- ^ Expressed as the percentage of valuation that is debt. Includes stadium debt.
- ^ Revenue in USD.
- ^ Earnings (in USD) before interest, taxes, depreciation and amortization.
- ^ a b Financial data taken from each team profile on Forbes.
- ^ Portion of franchise's value attributable to revenue shared among all teams.
- ^ Portion of franchise's value attributable to its city and market size.
- ^ Portion of franchise's value attributable to its arena.
- ^ Portion of franchise's value attributable to its brand.
- ^ a b c d e f g h i j k l Club did not exist to be attributed a financial valuation.
See also
[edit]References
[edit]- ^ "New York Rangers Profile". Forbes. Retrieved 2 April 2022.
- ^ a b "NHL Team Values 2022: New York Rangers On Top At $2.2 Billion". Forbes. Retrieved 20 December 2022.
- ^ "The Business of Hockey List". Forbes. Retrieved 2 April 2022.
- ^ "Edmonton Oilers Profile". Forbes. Retrieved 2 April 2022.
- ^ "Rangers top Forbes' list of NHL team values as 1st franchise worth $2B". Score Media and Gaming. Retrieved 2 April 2022.
- ^ "New York Rangers tabbed as most valuable NHL franchise, Maple Leafs and Canadiens round out the top three". National Hockey League. Retrieved 2 April 2022.
- ^ "Rangers Top Forbes' 2021 List of Most Valuable NHL Teams; NYR Becomes 1st $2B Team". Bleacher Report. Retrieved 2 April 2022.
- ^ "Maple Leafs first NHL team worth $1 billion, according to Forbes magazine". National Hockey League. Retrieved 2 April 2022.
- ^ "Forbes: Maple Leafs most valuable NHL team at $332 million; Capitals are last". National Hockey League. Retrieved 2 April 2022.
- ^ "Edmonton Oilers Profile". Forbes. Retrieved 2 April 2022.
- ^ "NHL Records - Edmonton Oilers". National Hockey League. Retrieved 2 April 2022.
- ^ "Home of the Katz Group". Katz Group of Companies. Retrieved 2 April 2022.
- ^ "Sportsnet announces 2021-22 Edmonton Oilers broadcast schedule". Sportsnet. Retrieved 2 April 2022.