The NHL’s billion-dollar club is expanding, as the New York Rangers, Toronto Maple Leafs and Montreal Canadiens have been joined by the Chicago Blackhawks as franchises with an estimated 10-figure valuation.
On Tuesday, Forbes released its annual Business of Hockey report, a look into the financials behind the game, with the Rangers remaining atop the rankings for the third straight year as the NHL as a whole rose 15 percent to an average of $594 million per franchise, according to Forbes’ Mike Ozanian.

After topping the list with a $1.25-billion valuation last season, the Blueshirts increased their worth to $1.5 billion this season. The Maple Leafs overtook the Canadiens, who were valued at $1.25 billion, for second spot on the list, increasing their value by $300 million to a whopping $1.4 billion, thanks in part to a massive arena naming rights deal with Scotiabank. Meanwhile, the Blackhawks, who’ve flirted with a billion-dollar valuation over the past two years, rose to an even $1 billion. That’s up $15 million from last season’s estimated value of $985 million. Rounding out the top five and remaining in fifth spot on the Forbes list are the Boston Bruins, valued at $890 million.
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