Forbes Magazine’s Most Valuable NHL Teams For 2019


  • Forbes Magazine has just released its 21st annual valuation of all 31 NHL teams. The New York Rangers maintain the No. 1 spot on the list for the fifth consecutive year, worth $1.65 billion.
  • The Toronto Maple Leafs follow in the second spot, worth $1.5 billion, followed by the Montreal Canadiens, who take the No. 3 spot and are valued at $1.34 billion.

  • The average value of each NHL team rose 6% over the past season, to $667 million.
  • The Washington Capitals were valued as the League’s 9th most valuable team at $775 million.
  • That’s up 7% from last year’s valuation, a 1% greater increase than the league average increase.
  • The Capitals have been ascending the list for the last several years (our 2015 post on team valuations is here.)

  • According to Forbes, the information used to compile their valuations primarily came from the teams, sports bankers, media consultants and public documents, like arena lease agreements and bond documents.
  • Pollstar was our primary source for arena concert revenue:
  • Methodology: Revenue and operating income are for the 2018-19 season, include postseason and applicable non-NHL arena revenue, and are net of revenue sharing and arena debt service.
  • All figures are in U.S. dollars based on average exchange rate during 2017-18 season.
  • Team values are enterprise values (equity plus net debt) of teams based on current arena deal (unless new arena is pending).
  • Operating income is earnings before interest, taxes, depreciation and amortization.
  • Debt includes arena when recourse to team owner.

Sources & Credits: Forbes
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