Forbes magazine recently released their annual list of NHL team values.  The Toronto Maple Leafs topped the list with a valuation of $1 Billion – the first NHL franchise to ever reach the billion dollar plateau.

Rounding out the top ten were the New York Rangers ($750 Million), Montreal Canadiens ($575 Million), Chicago Blackhawks ($350 Million), Boston Bruins ($348 Million), Detroit Red Wings ($346 Million), Vancouver Canucks ($342 Million), Philadelphia Flyers ($336 Million), Pittsburgh Penguins ($288 Million), and Los Angeles Kings ($276 Million).

Interestingly, the six most valuable NHL teams were the original six teams [TOR, MTL, NYR, CHI, BOS, DET] that composed the National Hockey League for the 25 years between 1942-43 season and the 1967 NHL expansion.  The ten most valuable teams  featured the five most recent Stanley Cup Champions [LAK, BOS, CHI, PIT, DET].

The five least valuable NHL teams were the Carolina Hurricanes ($162 Million), New York Islanders ($155 Million), Columbus Blue Jackets ($145 Million), Phoenix Coyotes ($134 Million) and St. Louis Blues ($130 Million).

The NHL reported $3.4 Billion in overall revenue for the 2011-2012 season – a 9% increase – mostly due to increased ticket prices (up 5%), strong attendance figures and by securing new and existing corporate sponsorships.

Although the average NHL team is worth $282 million, 18% more than a year ago, there is a large disparity between the rich and poor teams.  The most valuable team (TOR, $1 Billion) and the least valuable team (STL, $130 Million) are separated by $870 Million.  Further, while the five most valuable teams are worth an average of $605 Million, the five least valuable teams are worth an average of $145 million.

Overall operating income almost doubled during the 2011-12 season, to $250 million. However, the three most profitable teams [TOR, $81.9 million; NYR, $74 million; MTL, $51.6 million] accounted for 83% of the league’s income, while 13 of 30 teams operated in the red.  The three least profitable teams were the Phoenix Coyotes (-$20.6 Million), the Columbus Blue Jackets (-$18.7 Million) and the New York Islanders (-$16 Million).

While the NHL owners have faced much scrutiny for the continued lockout of the 2012-13 season, it is clear that the gap in team values and operating income must be addressed.  Hopefully both sides can agree upon an arrangement that works for all parties and resolves the increased disparity among NHL teams.