Rangers replace Maple Leafs as most valuable NHL club

The New York Rangers, worth an estimated $1.2 billion (1.1 billion euros), were named Tuesday as the National Hockey League's most valuable team by Forbes magazine, replacing the Toronto Maple Leafs.

The story on the magazine's website said the average value of an NHL club was $505 million, up three percent from last year.

The Rangers, on top for the first time since 2004, were bolstered by generating the most revenue in the NHL last season at $229 million, boosted by a $1 billion renovation of home rink Madison Square Garden and runs to the 2014 Stanley Cup finals and 2015 Eastern Conference finals.

The $95 million the Rangers made from premium seats and advertising led the NHL.

The Montreal Canadiens improved to second at $1.18 billion with a jump of 18 percent in value despite the drag of the Canadian exchange rate compared to US funds. They were the only one of Canada's seven NHL clubs to rise in value over the past year, in large measure due to a new local telecast deal that will pay $68 million Canadian a season, more than double their prior such income.

Toronto, who fell 12 percent in value to third at $1.15 billion, had been on top since 2006. The Leafs have reached the playoffs only once since 2006 and the team's 13-year sellout streak at Air Canada Centre was snapped last March.

Revenue averaged $133 million per team for the 2014-15 season, an eight percent jump from the prior season.

Chicago was fourth, up 12 percent to $925 million with a club that has won three Stanley Cups in six seasons.

Some teams lost money but rose in value. Tampa Bay lost in the NHL Final and did not turn a profit but jumped 15 percent in value to $260 million, 25th overall, and boosted season ticket sales by 3,000.

At the bottom of the list were the Florida Panthers at $190 million.
Source: AFP