It appears that now is a pretty good time to own an NHL team. Especially if you’re James Dolan of the New York Rangers.
In their latest annual rankings of NHL franchise evaluations, Sportico lists the Rangers as the second-highest valued team, at a cool $3.25 billion. That’s a 33 percent jump from last season ($2.45 billion). Once again, only the Toronto Maple Leafs have a higher valuation, at $3.66 billion, up 38 percent from a year ago.
It’s the fourth straight year that the Rangers ranked second in the valuations since Sportico began publishing this annual list in 2021. In fact, the top three teams remain unchanged in that span, with the Montreal Canadiens ($2.93 billion this year) once again sitting right behind the Maple Leafs and Rangers.
Sportico reported that the average NHL team valuation is $1.79 billion, up 39 percent over last year and a whopping 77 percent since 2022. Each NHL team is valued at over $1 billion this season, after 10 franchises were under that mark in 2023. The Columbus Blue Jackets have the lowest valuation at $1.06 billion, a 20 percent jump from a year ago.
There are many reasons for the valuations to skyrocket right now. Interestingly, one of those pointed out is that bankers like the hard salary cap because it it creates fixed cost for each team. But as NHL Commissioner Gary Bettman continues to crow about, the NHL is experiencing record revenue year after year since the coronavirus pandemic.
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Rangers watch other NHL teams jockey for position behind them in financial valuations
Being located in New York City and owning their own building, the iconic Madison Square Garden, certainly is a boon for the Rangers. And it doesn’t hurt that they’re a winning team right now, having reached the Eastern Conference Final two of the past three seasons and capturing the Presidents’ Trophy last season.
One can only imagine how the Rangers value would take off if they win the Stanley Cup for the first time since 1994. The same can be said for the Maple Leafs, who have not won a championship since 1967 or the Canadiens, whose most recent Cup was in 1993.
After reaching the Stanley Cup Final last season, the Edmonton Oilers valuation increased 51 percent from 2023 to $2.4 billion. The Stanley Cup champion Florida Panthers moved up three spots in the rankings, though they’re still need the bottom of the League, 26th, at $1.25 billion.
Sportico explained its valuation process this way: “To derive the fair market value of the 32 NHL franchises, Sportico calculated each team’s revenue, relying on publicly available information and financial records—as well as interviews with those knowledgeable of team finances, including eight sports bankers and lawyers who actively work on NHL transactions. In the interest of accuracy, we traded candor for anonymity. This information was vetted with multiple team owners, team financial and operating officers, media relations personnel and former team executives, as well as industry experts and sports-focused economists.”
Not surprisingly, the Utah Hockey Club — simply be relocating from Arizona — jumped 78 percent in their valuation, per Sportico. They moved up four spots from 32nd in 2023 to 28th at $1.2 billion.
