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 Toronto Maple Leafs were the most valuable NHL franchise after the 2022–23 NHL season, overtaking the New York Rangers. The Rangers held the title for 8 consecutive years prior to the 2022-2023 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]
Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as CBS and Bleacher Report.[5] [6] The NHL has consistently published news about the rankings since the early renditions.[7] [8] The report has also applied more context to NHL trends, such as the Edmonton Oilers doubling in value in just one year.[9] Particularly, the Oilers have recently been clinching the playoffs consistently that aligns well with the opening of Rogers Place and new media deals.[10] [11] [12]
Rankings as of December 14, 2023 (2022–23 NHL season)[13]
Rank | Swing | Team | Territory | Value | Change | Debt | Revenue | Operating Income | |
---|---|---|---|---|---|---|---|---|---|
1 | 1 | $2.8 billion | 40% | 7% | $281 million | $127 million | |||
2 | 1 | $2.65 billion | 20% | 3% | $265 million | $69 million | |||
3 | $2.3 billion | 24% | 9% | $265 million | $99 million | ||||
4 | 2 | $2 billion | 54% | 5% | $279 million | $108 million | |||
5 | $1.9 billion | 36% | 5% | $239 million | $57 million | ||||
6 | 2 | $1.875 billion | 25% | 5% | $228 million | $96 million | |||
7 | $1.85 billion | 45% | 4% | $281 million | $122 million | ||||
8 | $1.65 billion | 32% | 0% | $219 million | $53 million | ||||
9 | $1.6 billion | 33% | 12% | $218 million | $74 million | ||||
10 | 2 | $1.55 billion | 52% | 32% | $183 million | $30 million | |||
11 | 6 | $1.45 billion | 51% | 9% | $240 million | $55 million | |||
12 | 1 | $1.325 billion | 31% | 9% | $198 million | $48 million | |||
13 | 1 | $1.25 billion | 25% | 12% | $196 million | $27 million | |||
14 | 4 | $1.225 billion | 17% | 29% | $197 million | $44 million | |||
15 | 4 | $1.2 billion | 17% | 8% | $199 million | $64 million | |||
16 | 1 | $1.175 billion | 19% | 17% | $207 million | $49 million | |||
17 | 3 | $1.15 billion | 34% | 30% | $182 million | $39 million | |||
18 | 2 | $1.125 billion | 17% | 13% | $233 million | $73 million | |||
19 | 2 | $1.1 billion | 29% | 8% | $183 million | $37 million | |||
20 | 2 | $1.08 billion | 17% | 15% | $210 million | $50 million | |||
21 | 1 | $1.05 billion | 24% | 15% | $185 million | $43 million | |||
22 | 3 | $0.99 billion | 13% | 13% | $184 million | $41 million | |||
23 | $0.975 billion | 20% | 15% | $180 million | $38 million | ||||
24 | $0.95 billion | 19% | 29% | $128 million | $5.1 million | ||||
25 | 1 | $0.925 billion | 28% | 27% | $164 million | $22 million | |||
26 | 1 | $0.9 billion | 22% | 6% | $158 million | $11 million | |||
27 | 1 | $0.825 billion | 29% | 18% | $177 million | $25 million | |||
28 | 1 | $0.78 billion | 20% | 17% | $162 million | $21 million | |||
29 | 2 | $0.775 billion | 41% | 21% | $161 million | $6 million | |||
30 | 1 | $0.765 billion | 23% | 18% | $151 million | $35 million | |||
31 | 1 | $0.75 billion | 23% | 17% | $159 million | $25 million | |||
32 | $0.5 billion | 11% | 62% | $120 million | $19 million |
Team | Value | Sport | Market | Stadium | Brand | |
---|---|---|---|---|---|---|
$2.2 billion | $0.252 billion | $1.038 billion | $0.632 billion | $0.279 billion | ||
$2 billion | $0.239 billion | $0.937 billion | $0.536 billion | $0.289 billion | ||
$1.85 billion | $0.239 billion | $0.944 billion | $0.427 billion | $0.241 billion | ||
$1.5 billion | $0.23 billion | $0.679 billion | $0.407 billion | $0.184 billion | ||
$1.4 billion | $0.22 billion | $0.581 billion | $0.42 billion | $0.179 billion | ||
$1.3 billion | $0.149 billion | $0.535 billion | $0.446 billion | $0.171 billion | ||
$1.275 billion | $0.186 billion | $0.605 billion | $0.295 billion | $0.189 billion | ||
$1.25 billion | $0.24 billion | $0.501 billion | $0.365 billion | $0.145 billion | ||
$1.2 billion | $0.214 billion | $0.52 billion | $0.286 billion | $0.18 billion | ||
$1.05 billion | $0.191 billion | $0.428 billion | $0.272 billion | $0.159 billion | ||
$1.03 billion | $0.245 billion | $0.411 billion | $0.228 billion | $0.146 billion | ||
$1.02 billion | $0.206 billion | $0.412 billion | $0.268 billion | $0.134 billion | ||
$1.01 billion | $0.24 billion | $0.433 billion | $0.202 billion | $0.135 billion | ||
$1 billion | $0.238 billion | $0.379 billion | $0.272 billion | $0.111 billion | ||
$0.99 billion | $0.194 billion | $0.4 billion | $0.256 billion | $0.141 billion | ||
$0.965 billion | $0.168 billion | $0.407 billion | $0.268 billion | $0.123 billion | ||
$0.96 billion | $0.209 billion | $0.359 billion | $0.271 billion | $0.121 billion | ||
$0.925 billion | $0.22 billion | $0.383 billion | $0.198 billion | $0.124 billion | ||
$0.88 billion | $0.252 billion | $0.313 billion | $0.203 billion | $0.112 billion | ||
$0.86 billion | $0.249 billion | $0.302 billion | $0.199 billion | $0.11 billion | ||
$0.855 billion | $0.247 billion | $0.346 billion | $0.166 billion | $0.096 billion | ||
$0.85 billion | $0.258 billion | $0.296 billion | $0.195 billion | $0.101 billion | ||
$0.81 billion | $0.257 billion | $0.266 billion | $0.19 billion | $0.096 billion | ||
$0.8 billion | $0.293 billion | $0.238 billion | $0.152 billion | $0.116 billion | ||
$0.74 billion | $0.293 billion | $0.221 billion | $0.168 billion | $0.057 billion | ||
$0.725 billion | $0.263 billion | $0.224 billion | $0.147 billion | $0.091 billion | ||
$0.65 billion | $0.26 billion | $0.203 billion | $0.124 billion | $0.063 billion | ||
$0.64 billion | $0.223 billion | $0.214 billion | $0.128 billion | $0.075 billion | ||
$0.61 billion | $0.263 billion | $0.193 billion | $0.1 billion | $0.053 billion | ||
$0.55 billion | $0.247 billion | $0.156 billion | $0.096 billion | $0.052 billion | ||
$0.45 billion | $0.236 billion | $0.117 billion | $0.061 billion | $0.036 billion |
2,800 | 2,000 | 1,800 | 1,500 | 1,500 | 1,500 | 1,400 | 1,100 | 1,200 | 1,300 | 1,200 | ||
2,650 | 2,200 | 2,000 | 1,700 | 1,700 | 1,600 | 1,500 | 1,300 | 1,200 | 1,100 | 850 | ||
2,300 | 1,850 | 1,600 | 1,300 | 1,300 | 1,300 | 1,300 | 1,100 | 1,200 | 1,000 | 775 | ||
2,000 | 1,300 | 1,025 | 825 | 850 | 810 | 750 | 600 | 580 | 580 | 450 | ||
1,900 | 1,400 | 1,300 | 1,000 | 1,000 | 925 | 890 | 800 | 750 | 750 | 600 | ||
1,875 | 1,500 | 1,400 | 1,100 | 1,100 | 1,100 | 1,000 | 925 | 925 | 825 | 625 | ||
1,850 | 1,275 | 1,100 | 550 | 575 | 540 | 520 | 445 | 455 | 475 | 400 | ||
1,650 | 1,250 | 1,200 | 800 | 825 | 800 | 740 | 720 | 660 | 625 | 500 | ||
1,600 | 1,200 | 930 | 750 | 775 | 725 | 625 | 575 | 565 | 500 | 414 | ||
1,550 | 1,020 | 950 | 520 | 520 | 440 | 395 | 385 | 325 | 300 | 195 | ||
1,450 | 960 | 775 | 530 | 550 | 455 | 400 | 320 | 330 | 330 | 320 | ||
1,325 | 1,010 | 825 | 725 | 740 | 735 | 730 | 700 | 745 | 800 | 700 | ||
1,250 | 1,000 | 650 | 470 | 470 | 445 | 390 | 305 | 260 | 230 | 180 | ||
1,225 | 1,050 | 875 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
1,200 | 1,030 | 990 | 775 | 800 | 775 | 700 | 625 | 600 | 570 | 470 | ||
1,175 | 990 | 900 | 650 | 665 | 650 | 650 | 570 | 560 | 565 | 480 | ||
1,150 | 860 | 630 | 465 | 475 | 430 | 385 | 360 | 360 | 360 | 337 | ||
1,125 | 965 | 710 | 570 | 580 | 575 | 500 | 0 | 0 | 0 | 0 | ||
1,100 | 855 | 680 | 480 | 500 | 450 | 430 | 410 | 435 | 451 | 420 | ||
1,080 | 925 | 720 | 575 | 600 | 525 | 515 | 500 | 450 | 420 | 333 | ||
1,050 | 850 | 675 | 500 | 510 | 490 | 440 | 400 | 380 | 370 | 330 | ||
990 | 880 | 640 | 510 | 530 | 465 | 450 | 310 | 270 | 235 | 185 | ||
975 | 810 | 600 | 435 | 460 | 425 | 380 | 270 | 255 | 250 | 205 | ||
950 | 800 | 525 | 430 | 445 | 435 | 420 | 355 | 370 | 400 | 380 | ||
925 | 725 | 620 | 460 | 480 | 460 | 460 | 415 | 400 | 365 | 300 | ||
900 | 740 | 625 | 515 | 540 | 510 | 490 | 470 | 445 | 425 | 405 | ||
825 | 640 | 550 | 440 | 450 | 420 | 370 | 230 | 225 | 220 | 187 | ||
780 | 650 | 575 | 405 | 420 | 415 | 375 | 340 | 350 | 358 | 340 | ||
775 | 550 | 450 | 295 | 310 | 295 | 305 | 235 | 186 | 190 | 240 | ||
765 | 620 | 475 | 310 | 325 | 320 | 315 | 245 | 226 | 200 | 175 | ||
750 | 610 | 500 | 385 | 400 | 375 | 350 | 300 | 300 | 288 | 250 | ||
500 | 450 | 400 | 285 | 300 | 290 | 300 | 240 | 220 | 225 | 200 |