It is that time of year again. The Holidays are here and so are Forbes annual rankings for the NHL’s most valuable teams. Following the COVID-shortened season that saw a 2.0% dip in overall team value, arenas are full once again and hockey has heated up quickly. Even though the pandemic is still hanging around, team values increased by 32% from last season, marking the largest increase in eight years. A huge factor in this increase is the recent seven-year television rights agreement with ESPN and Turner, who will pay the NHL an average of $625 million per year compared to the $300 million they were receiving from NBC in the years prior. The top spot this year goes to the New York Rangers, who become the first NHL team ever to be worth more than two billion dollars. Here is a look at the full list from top to bottom.
Top 10
Alexis Lafreniere, New York Rangers (Photo by Jared Silber/NHLI via Getty Images)
1. New York Rangers
Value: $2 billion 2020 Ranking: 1st Owner: Madison Square Garden Sports
2. Toronto Maple Leafs
Value: $1.8 billion 2020 Ranking: 2nd Owner: Bell Canada, Rogers Communications, Larry Tanenbaum
3. Montreal Canadiens
Value: $1.6 billion 2020 Ranking: 3rd Owner: Molson family
4. Chicago Blackhawks
Value: $1.4 billion 2020 Ranking: 4th Owner: Rocky Wirtz
5. Boston Bruins
Value $1.3 billion 2020 Ranking: 5th Owner: Jeremy Jacobs
6. Philadelphia Flyers
Value: $1.2 billion 2020 Ranking: 7th Owner: Comcast
7. Edmonton Oilers
Value: $1.1 billion 2020 Ranking: 14th Owner: Daryl Katz
8. Los Angeles Kings
Value: $1.025 billion 2020 Ranking: 6th Owner: Philip Anschutz
9. Detroit Red Wings
Value: $990 million 2020 Ranking: 8th Owner: Marian Ilitch
10. New York Islanders
Value: $950 million 2020 Ranking: 16th Owner: Scott Malkin, Jon Ledecky
The club from the big apple becomes the first team worth $2 billion in NHL history. This marks the eighth straight year that the Rangers top the list, largely due to their ‘original six’ market, and $1 billion restoration of Madison Square Garden. The Philadephia Flyers and New York Islanders are two other teams benefitting from recent arena transformations. The two largest increases in the top ten came from the Islanders, who jumped from 16th to 10th with an increase of 83%, and the Edmonton Oilers, who jumped from 14th to 7th with an increase of 100%.
Middle of the Pack
Washington Capitals’ Alex Ovechkin scoring his 700th goal, Feb. 22, 2020 (
Jess Starr/The Hockey Writers)
11. Washington Capitals
Value: $930 million 2020 Ranking: 9th Owner: Ted Leonsis
12. Pittsburgh Penguins
Value: $900 million 2020 Ranking: 11th Owner: Mario Lemieux, Ron Burkle
13. Seattle Kraken
Value: $875 million 2020 Ranking: none Owner: David Bonderman
14. Vancouver Canucks
Value: $825 million 2020 Ranking: 10th Owner: Aquilini Investment Group
15. New Jersey Devils
Value: $775 million 2020 Ranking: 15th Owner: Josh Harris, David Blitzer
16. Dallas Stars
Value: $720 million 2020 Ranking: 12th Owner: Tom Gagliardi
17. Vegas Golden Knights
Value: $710 million 2020 Rank: 13th Owner:Bill Foley, Maloof family
18. Calgary Flames
Value: $680 million 2020 Rank: 20th Owner: N. Murray Edwards
19. Minnesota Wild
Value: $675 million 2020 Rank: 19th Owner: Craig Leipold
20. Tampa Bay Lightning
Value: $650 million 2020 Rank: 21st Owner: Jeffrey Vinik
21. St. Louis Blues
Value: $640 million 2020 Rank: 18th Owner: Tom Stillman
Among the middle of the pack are many teams that fell in this years’ rankings. The biggest decrease came from the Vancouver Canucks, Dallas Stars, and Vegas Golden Knights, who all dropped four spots.
The newcomer Seattle Kraken grabbed the 13th spot on the list right off the bat with their impressive ‘Climate Pledge Arena’ and high number of initial ticket sales. The only clubs that saw an increase in this group were the Calgary Flames and two-time defending Stanley Cup Champion, Tampa Bay Lightning.
Bottom 10
Colorado Avalanche center Nathan MacKinnon (AP Photo/Wilfredo Lee)
22. Colorado Avalanche
Value: $630 million 2020 Rank: 22nd Owner: Stanley Kroenke
23. San Jose Sharks
Value: $625 million 2020 Rank: 17th Owner: Hasso Plattner
24. Anaheim Ducks
Value: $620 million 2020 Rank: 23rd Owner: Henry and Susan Samueli
25. Nashville Predators
Value: $600 million 2020 Rank: 25th Owner: Herbert Fritch
26. Winnipeg Jets
Value: $575 million 2020 Rank: 27th Owner: True North Sports + Entertainment
27. Carolina Hurricanes
Value: $550 million 2020 Rank: 24th Owner: Tom Dundon
28. Ottawa Senators
Value: $525 million 2020 Rank: 26th Owner: Eugene Melnyk
29. Buffalo Sabres
Value: $500 million 2020 Rank: 28th Owner: Terrence and Kim Pegula
30. Columbus Blue Jackets
Value: $475 million 2020 Rank: 29th Owner: John P. McConnell, Nationwide
31. Florida Panthers
Value: $450 million 2020 Rank: 30th Owner: Vincent Viola
32. Arizona Coyotes
Value: $400 million 2020 Rank: 31st Owner: Alex Meruel
Phil Kessel, Arizona Coyotes (
Amy Irvin / The Hockey Writers)
Once again, it is the Arizona Coyotes rounding out the teams at the bottom of the list. Currently without an arena for the 2022-23 season and being threatened a lockout from their current arena this season, the messy Coyotes have traded hands twice over the past seven years. They were sold for $305 million in 2014 and again for $300 million in 2019 and have been the lowest valued team for a large part of a decade. This bottom group represents the least change as only the Ottawa Senators, Carolina Hurricanes, and San Jose Sharks moved more than one spot in either direction.
The NHL is seeing a reboot after a large decrease in revenue during the COVID-19 pandemics’ worst times. After reaching a low of $2.9 billion in total revenue last season, the league is projected to see a steady increase in the coming years, eventually reaching $6 billion in 2025-26.
Now that you have read the full list, who are your biggest surprises?
Sam Nestler is a Dallas Stars contributor for the ‘The Hockey Writers’. Growing up in New Jersey, Sam has been playing hockey since he was 7 years old. Developing a love for writing in college, Sam uses his hockey knowledge to create analyses and articles on every aspect of the game. Sam also hosts his own podcast on Spotify, the “Slapshot Sammy’ podcast, breaking down action across the NHL and NCAA. Check out the podcast here, and give his latest article a read!
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