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Average NHL Team Value Rises to $2.2 Billion, a 15% Increase

2025-11-25

The BareStory

The average value of a National Hockey League team has reached $2.2 billion, a 15% increase from the previous year, according to a 2025 valuation analysis. The Toronto Maple Leafs are ranked as the most valuable franchise at $4.3 billion, with the New York Rangers ($3.8 billion) and Montreal Canadiens ($3.4 billion) following. The league's 32 teams saw average revenue increase 9% to $243 million during the 2024-25 season, the analysis found.

This growth is primarily attributed to richer national media rights agreements. In April, the NHL and Rogers Communications agreed to a 12-year Canadian media rights deal valued at $7.79 billion. The analysis also noted that the even distribution of national media revenue had a greater proportional impact on lower-revenue teams, whose average value increased by 19% compared to a 14% rise for the highest-revenue teams.

In an interview Tuesday, NHL Commissioner Gary Bettman stated his belief that the league's franchises remain undervalued. He claimed the Maple Leafs would sell for significantly more than their $4.3 billion valuation if put on the market. Bettman also said he has been instructed by team owners to seek a minimum of $2 billion for any new expansion team, a substantial increase from the $650 million paid by the Seattle Kraken in 2021 and the $500 million paid by the Vegas Golden Knights in 2017.

The league recently facilitated a $1.2 billion transaction that saw the Arizona Coyotes relocate to become the Utah Mammoth. In October, the NHL also became the first major sports league to partner with prediction market platforms. Commissioner Bettman said he was confident in the integrity of NHL personnel and stated his belief that hockey is not as susceptible to cheating as some other sports.

Left Perspective

  • The league is experiencing substantial financial growth.
  • League leadership believes current valuations are too low.
  • Future expansion and transactions are expected to command higher prices.

Right Perspective

  • The league's financial growth is primarily tied to media rights deals.
  • The benefits of new revenue are not uniform across the league.
  • The NHL is entering into new partnerships with potential integrity concerns.

How it may affect me

As a U.S. reader:

• Rising team revenues and franchise valuations could lead to higher ticket, merchandise, and concession prices for fans attending games.

• The new $2 billion minimum price for an expansion team could make it more costly for U.S. cities to attract a new NHL franchise.

• Growth driven by richer media rights deals may alter how games are broadcast, potentially affecting viewing costs or channel availability.

• The league's partnership with prediction markets introduces a new way for the public to financially engage with the sport.

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