The Most Valuable NHL Teams 2023
The Toronto Maple Leafs are the most valuable team in the National Hockey League for the first time since 2014. Even though they have not won the Stanley Cup since 1967, Forbes values the Maple Leafs at $2.8 billion, $150 million more than the New York Rangers ($2.65 billion), who held the top spot for eight straight years. The Montreal Canadiens are the NHL’s third-most-valuable team, worth $2.3 billion. If $2.8 billion sounds too rich for a team that earlier this year won a playoff series for the first time since 2004, consider this: Last month, the Ontario Municipal Employees Retirement System acquired a 5% stake in Maple Leaf Sports and Entertainment—the parent company of the Maple Leafs, the NBA’s Toronto Raptors and MLS’s Toronto FC—with its purchase of 20% of Kilmer Sports from Larry Tanenbaum at an $8.4 billion valuation. Forbes valued the Raptors at $4.1 billion in October and pegged Toronto FC at $690 million in February. While MLSE—a unique sports platform that also owns Scotiabank Arena—is worth at least 10% more than the sum of its individual parts, the math suggests that $2.8 billion is conservative. To be sure, despite concerns over the future of regional sports networks, NHL teams remain hot properties. The average value of an NHL team has risen 29% from a year ago, to $1.33 billion. Last season, revenue (including arena proceeds from non-NHL events) hit an average of $201 million, 8.6% more than the previous season. The Los Angeles Kings, meanwhile, usurped the Boston Bruins and the Chicago Blackhawks to claim the fourth spot in the ranking with a value of $2 billion. The Kings—owned by billionaire Philip Anschutz, who also owns Crypto.com Arena through his company, AEG Worldwide—recently completed a two-phase renovation of the arena that has focused on premium spaces for the well-heeled L. A. faithful. The arena also houses the NBA’s Lakers and Clippers and gets top prices for its suites and club seating. Last season, the Kings posted revenue of $279 million and operating income of $108 million, including AEG’s share of arena money, the third-most in the NHL in both categories. The league also remains especially robust in Canada, where hockey is a religion. For example, in November, logistics billionaire Michael Andlauer sold his 10% stake in the Montreal Canadiens at a $2.3 billion valuation because a month earlier he had bought the Ottawa Senators for $950 million—the second-most ever paid for a hockey team. (The Leafs changed hands for $1 billion in 2012.) The Senators sale was at 7.4 times revenue even though the team had the second-lowest revenue in the league last season ($128 million). Two years earlier, the Pittsburgh Penguins, whose economics are superior to the Senators’, sold for $875 million, or 4.7 times revenue. One major area of growth for the league has been sponsorships. During the 2022-23 season, local (team-specific) sponsorship revenue, excluding local broadcasting, was $1.
All data is taken from the source: http://forbes.com
Article Link: https://www.forbes.com/sites/mikeozan...
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