NEW YORK – For the first time since 2005, the Toronto Maple Leafs are out of top spot in the annual Forbes valuation of the National Hockey League’s 30 teams.
The New York Rangers moved into top spot with a worth of US$1.2 billion, according to the magazine’s list. The franchise, which was No. 2 in 2014, last held the No. 1 position in 2004.
The Montreal Canadiens rose one spot to No. 2 with a value of $1.18 billion while the Maple Leafs fell to third at $1.15 billion.
The Rangers’ financial strength was helped by the $1-billion renovation of Madison Square Garden and the team’s run to the Stanley Cup final in 2014 and semifinals last spring, Forbes said in its report Tuesday.
The Maple Leafs’ drop was driven by several factors, including poor on-ice results in recent years and the team’s 13-year sellout streak at Air Canada Centre being broken as well as the decline of the Canadian dollar.
The Habs were the lone Canadian team to see an increase in revenue thanks largely to a new local TV deal which will see them earn double their take.
The Chicago Blackhawks ($925 million) and Boston Bruins ($750 million) rounded out the top five.
The Vancouver Canucks were No. 6 ($750 million) while the two Alberta teams, the Edmonton Oilers ($460 million) and Calgary Flames ($440 million) finished No. 12 and No. 15 respectively.
The Ottawa Senators ($370 million) were 18th while the Winnipeg Jets ($350 million) finished 20th overall, well ahead of the Florida Panthers ($190 million), who finished at the bottom of the Forbes list.
Forbes also said the average NHL team is now worth $505 million, an increase of three per cent from last year.
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