For the second straight year the New York Rangers are the NHL’s most valuable franchise.

Forbes annual NHL team valuations puts the Rangers as the NHL’s most valued organization, currently listed at $1.25 billion, which is up from $1.2 billion last season. The Montreal Canadiens stayed at No. 2 ahead of the Toronto Maple Leafs in part because the Habs brought in the most operating income. Both the Canadiens and Maple Leafs missed the playoffs last year. The Maple Leafs held the top spot from 2006 until last season.


Forbes said that the average NHL team worth went up to $517 million, three percent higher than last year.

For the second consecutive season the New York Rangers are the most valuable team, worth $1.25 billion. The Blueshirts led the league in revenue ($219 million) and were second in operating income ($74.5 million). The Montreal Canadiens usurped the Toronto Maple Leafs as the NHL’s second most valuable team. Montreal raked in the most operating income in the league ($76.9 million) during 2015-16 and are now worth $1.12 billion, $20 million more than Toronto.

New York Rangers, $1.25 billion

Montreal Canadiens, $1.12 billion

Toronto Maple Leafs, $1.1 billion

Chicago Blackhawks, $925 million

Boston Bruins, $800 million

Philadelphia Flyers, $720 million

Vancouver Canucks, $700 million

Detroit Red Wings, $625 million

Los Angeles Kings, $600 million

Washington Capitals, $575 million

Pittsburgh Penguins, $570 million

Dallas Stars, $500 million

San Jose Sharks, $470 million

Edmonton Oilers, $445 million

Anaheim Ducks, $415 million

Calgary Flames, $410 million

Minnesota Wild, $400 million

New York Islanders, $385 million

Colorado Avalanche, $360 million

Ottawa Senators, $355 million

Winnipeg Jets, $340 million

New Jersey Devils, $320 million

St. Louis Blues, $310 million.

Tampa Bay Lightning, $305 million

Buffalo Sabres, $300 million

Nashville Predators, $270 million

Columbus Blue Jackets, $245 million

Arizona Coyotes, $240 million

Florida Panthers, $235 million

Carolina Hurricanes, $230 million

Forbes noted that Canadian dollar continues to be an issue that plagues the NHL and all Canadian teams saw drops in their values.

Another challenge to profitability is specific to the seven Canadian teams: the collapse of the Canadian dollar relative to the U.S. dollar. The exchange rate of $1 Canadian equal to U.S. 0.75 for the 2015-16 season hurts the teams North of the Border because they collect a big chunk of their revenue in local currency and pay players in greenbacks.

The Pittsburgh Penguins saw just a 2 percent increase in value up to $570 million after their run to the Stanley Cup. Forbes points out that even though owners Mario Lemieux and Ron Burkle have been unable to sell the team for a much higher price, “The Penguins symbolize what is possible in the NHL–an elite, midsize market team that is highly profitable. Increased profitability is the theme for the NHL.”

Despite the Canadian dollar issues Forbes says the NHL has a lot of positive business markers, such as their deal with MLB Advanced Media from two summers ago, and the $500 million expansion fee the league received for the Vegas Golden Knights.

Here is our blog of last year’s rankings. p? Email him at or follow him on Twitter! Follow @joshuacooper. [/restrict]