Thursday November 30, 2023

Rangers First NHL Team to Hit $2B Valuation

Wendell Cruz-USA TODAY Sports/Design: Alex Brooks
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The New York Rangers are the National Hockey League’s first team to reach a $2 billion valuation and the No. 1 team on Forbes’ NHL valuation list for the seventh year in a row.

The rest of the league’s teams hit an average valuation of $865 million, a 32% jump from last year — the biggest increase since 2013, when the average rose 50%.

The Toronto Maple Leafs ranked second at a $1.8 billion valuation, followed by the Montreal Canadiens at $1.6 billion.

It’s been an impressive year for the league all around.

  • The league’s seven-year broadcasting deals with ESPN and Turner began this season at an average of $625 million each year. Before, media rights brought in about $300 million annually.
  • The Seattle Kraken paid a $650 million fee to enter the league this season and are already valued at $875 million thanks to strong ticket sales. The New York Islanders moved to a new arena, increasing their valuation by 83%.
  • Fenway Sports Group entered an agreement to purchase the Pittsburgh Penguins for $900 million last month — 4.5 times the team’s projected revenue for the 2021-22 season.
  • The Oilers doubled in value from last season to $1.1 billion.

NHL insiders forecast revenue jumping from $4.8 billion this season to $5.4 billion in 2022-23, and the league expects revenue to hit $6 billion by 2025-26.

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