Toronto Maple Leafs top NHL franchise valuations at $4.35 billion

By AI, Created 5:30 PM UTC, May 18, 2026, /AGP/ – A new analysis of all 32 NHL teams puts the Toronto Maple Leafs first at $4.35 billion, with the New York Rangers and Montreal Canadiens close behind. The rankings underline how the league’s top brands, media deals and arena economics continue to drive billion-dollar valuations across the NHL.

Why it matters: - NHL franchise values now stretch well beyond the league’s original elite teams, with all 32 clubs valued at more than $1 billion. - The results show how media rights, arena revenue and betting-related market changes are shaping team economics. - The top of the market remains concentrated in the league’s most established brands, but newer expansion clubs are also climbing fast.

What happened: - Betinia NJ analyzed valuation data for all 32 NHL franchises using cross-referenced CNBC Official NHL Team Valuations from November 2025 and Forbes data from December 2025. - The Toronto Maple Leafs ranked No. 1 at $4.35 billion. - The New York Rangers ranked No. 2 at $3.8 billion. - The Montreal Canadiens ranked No. 3 at $3.4 billion. - The Los Angeles Kings ranked No. 4 at $3.15 billion. - The Edmonton Oilers ranked No. 5 at $3.1 billion. - The Boston Bruins ranked No. 6. - The Chicago Blackhawks ranked No. 7 at $2.75 billion. - The Philadelphia Flyers ranked No. 8 at $2.6 billion. - The Washington Capitals ranked No. 9 at $2.5 billion. - The Detroit Red Wings ranked No. 10 at $2.47 billion.

The details: - The study said the NHL’s Original Six teams still hold the top three spots: Toronto, New York and Montreal. - The Toronto Maple Leafs have not won the Stanley Cup since 1967, the longest active drought in NHL history. - The Leafs benefit from the league’s largest fan base and a downtown home at Scotiabank Arena. - The New York Rangers generated $179 million in game-day gate receipts last season. - The Rangers totaled $615 million in gate receipts over the last four seasons. - The Montreal Canadiens signed a new local media rights deal in October 2025 with Bell Media across English and French channels. - That deal is expected to generate an average of $70 million to $75 million. - The Los Angeles Kings were up 11% year over year in value. - The Edmonton Oilers were the third and final Canadian team in the top 10. - The Oilers posted 17% year-over-year growth, the second-highest in the top 10 behind the Detroit Red Wings. - The Vegas Golden Knights ranked 13th at $2.1 billion. - The Golden Knights, founded in 2017, reached the Stanley Cup Final in their first season and are described in the analysis as the most successful U.S. sports expansion franchise. - The Carolina Hurricanes were the fastest-growing team over the last year, rising 53% from $1.2 billion to $2 billion. - The Hurricanes’ growth was driven by consecutive playoff runs and strong management, the analysis said.

Between the lines: - The rankings show that long-standing fan loyalty still commands a premium in the NHL. - The gap between the league’s traditional powers and newer growth stories is narrowing in some markets. - Revenue drivers beyond wins, including media contracts and stadium economics, appear to be just as important as on-ice performance.

What’s next: - The NHL’s franchise values will likely keep rising if media rights, attendance and betting-related revenue remain strong. - Expansion-era clubs like Vegas and fast-rising teams like Carolina could keep reshaping the league’s valuation hierarchy. - The broader market suggests investor interest in NHL teams remains deep across both Canadian and U.S. franchises.

The bottom line: - The NHL’s top teams are now billion-dollar assets, and the league’s most valuable franchises are being driven as much by business fundamentals as by hockey success.