Sportico claims NHL franchises on average are worth more than $1 billion dollars
What Is an NHL Franchise Really Worth?
There are some journalists and analysts who spend their time calculating what a sports franchise is supposedly worth. Each year, outlets like Sportico and Forbes release their assessments, ranking teams by valuation and speculating on their financial health. But the truth is simpler — a sports franchise is worth only what a buyer is willing to pay when the business changes hands. So what would a NHL franchise be worth if you wanted to buy one?
Sportico recently released its updated list of NHL franchise valuations, ranking all 32 teams. According to their numbers, the Toronto Maple Leafs sit atop the list, while the Columbus Blue Jackets sit at the bottom, valued at $1.3 billion. That figure may seem low by professional sports standards, but it’s a remarkable increase from the Blue Jackets’ original franchise fee of $80 million in 1997. Adjusted for inflation, that 1997 expansion cost would equal roughly $160 million today, meaning the team’s paper value has multiplied eightfold in less than three decades.
The Power of the “Original Six”
Much of the NHL’s perceived value still ties back to nostalgia. The league’s so-called “Original Six” — Toronto, Montreal, New York, Boston, Chicago, and Detroit — continue to dominate in both fan loyalty and franchise valuation. Ironically, that group wasn’t the league’s true original six teams, and during that era from 1942 to 1967, the NHL’s business stagnated, remaining small and regional. Yet these six markets still anchor the NHL’s economic foundation.
Toronto tops the Sportico list with an estimated value of $4.25 billion, followed by James Dolan’s New York Rangers at $3.25 billion. The Montreal Canadiens and Boston Bruins are close behind, continuing the tradition of the old guard leading the way.
Surprising Climbers and New Realities
Sportico’s analysis also reveals how some nontraditional or smaller markets have closed the gap. Twelve of the league’s 32 teams now have valuations exceeding $2 billion, reflecting the growing strength of the NHL’s media and expansion strategy. The Los Angeles Kings hold the fifth spot, while a surprise entry, the Edmonton Oilers, rank sixth despite operating in a much smaller Canadian market and dealing in Canadian currency that trades at about 72 cents on the U.S. dollar.
Chicago follows at seventh, Philadelphia at eighth, Washington at ninth, and Detroit rounds out the top ten — giving the NHL a mix of legacy and emerging financial powers.
Bettman’s Business Impact
Under Commissioner Gary Bettman, who has led the NHL since 1993, the league’s owners have watched their investments soar. Expansion, improved media rights, and corporate partnerships have all pushed franchise valuations to record highs. Bettman may not always win the popularity contest with fans, but his legacy in the boardroom is undeniable — he has made his bosses very rich.
Evan Weiner’s books are available at: iTunes
Contact Evan: evan_weiner@hotmail.com
