Rangers, Maple Leafs, Canadiens Top Forbes' List of Most Valuable NHL Teams

For the sixth straight year, the New York Rangers have topped Forbes' list of the most valuable NHL franchises.

Per Mike Ozanian and Kurt Badenhausen of Forbes.com, the Rangers' $1.65 billion valuation is flat with 2019's.

The rest of the top five includes the Toronto Maple Leafs ($1.5 billion), Montreal Canadiens ($1.34 billion), Chicago Blackhawks ($1.085 billion) and Boston Bruins ($1 billion).

Ozanian and Badenhausen noted the average NHL franchise valuation declined for the first time since 2001 because of the shortened season and revenue losses stemming from the COVID-19 pandemic.

"Revenue for the league totaled $4.4 billion during the 2019-20 season, 14 percent less than the previous year," Ozanian and Badenhausen wrote. "Operating income was $250 million, down 68 percent. That's left many owners scrambling for a lifeline."

The Los Angeles Kings are the highest-ranked team on the list that saw their value decrease. They check in at No. 6 overall, but their $825 million valuation is down 3 percent from 2019.

The Arizona Coyotes, Florida Panthers, Columbus Blue Jackets, Nashville Predators and San Jose Sharks were tied for the largest valuation drop at 5 percent. The New York Islanders ranked 16th in overall value at $520 million, but their $37.9 million operating losses were most in the NHL.

The Stanley Cup champion Tampa Bay Lightning jumped to No. 21 on the list, despite their valuation of $470 million remaining the same as it was in 2019.

Negotiations are ongoing between the league and players about holding the 2020-21 season, but no announcement has been made at this point.