The Most Profitable NHL Teams in 2024 | NHL Team Values
Which are the most profitable NHL teams in the league? Is it the Vancouver Canucks, the Calgary Flames, the Philadelphia Flyers, or another top team?
There are a few answers that won’t surprise you and a few that will. Read on to find out the most profitable NHL teams and how they stack up against the competition, including squads with a team value of $1.2 billion and more.
We often hear about the huge player contracts in leagues like the NHL, NBA, MLB, and NFL, as well as the astronomical values associated with owning one of those major sports franchises. The rise of sports betting, particularly NHL betting, has added another layer of financial interest and fan engagement, further boosting the league’s profitability.
Top 10 Most Profitable NHL Teams
How do we rank the most profitable NHL hockey team? There are two ways to go about it: total value and yearly revenue.
To determine the most profitable team, we’ll focus on the yearly revenues of each team since a franchise like Seattle hasn’t been around long enough to be a fair judge of total value.
10. Seattle Kraken – $197 million in Revenue
Seattle Kraken is the newest NHL franchise and one of the most profitable right out of the gate.
Hockey officially arrived in the Pacific Northwest for the start of the 2021-22 season, and the results have been a mixed bag on the ice.
The team’s record has not been great, but they did make the playoffs this past year, helping their finances and aiding them in these rankings.
The team performed poorly in its first season but managed to reach the playoffs in Year 2. In addition, it generated nearly $200 million in total revenue, making it one of the most popular options in terms of merchandising.
Everyone loves buying gear from the new team, so the owners must have been very happy to see that.
Hockey has been an early hit in Seattle so far. The success of the 2022-23 season, which included a playoff appearance and an upset of the defending Stanley Cup Champion Colorado Avalanche, set high hopes for the following seasons.
In the 2023-24 season, the Kraken finished with a record of 34-35-13, missing the playoffs.
However, they achieved a significant milestone by recording the first shutout in Winter Classic history with a 3-0 victory against the Vegas Golden Knights.
With these experiences, the franchise continues to build its brand and looks forward to future successes, both on the ice and financially.
9. Washington Capitals – $218 million in Revenue
Just a hair ahead of the Kraken are the Capitals. The D.C.-based franchise brought in $218 million in total revenue over the last year, good for 9th on the list. This is largely because the team has been one of the best in the league for over a decade, consistently competing at the top of the standings.
Though the team is entering something of a transition phase, where aging players are finishing out their careers and young talent is being ushered in, revenues should remain high for one reason: Alex Ovechkin. He continues to close in on Wayne Gretzky’s NHL record for career goals and could catch “The Great One” in the next two years.
Alex Ovechkin does have a ton of fans and followers across social media because of his play style, and that has helped the team position themselves with content.
For now, “The Great 8” and his chase of immortality will be more than enough to keep interest in the Capitals high. They may not be the Stanley Cup contenders they were even a few years ago, but they will continue to drive revenue like few other franchises.
8. Philadelphia Flyers – $219 million in Revenue
The Philadelphia Flyers brought in $219 million in total revenue, making them one of the top earners despite some struggles on the ice in recent years.
The team benefits from a strong, loyal fan base and a rich history that keeps merchandise sales and attendance high. The Flyers’ passionate supporters fill the Wells Fargo Center consistently, and their merchandise, from jerseys to memorabilia, remains highly popular.
Located in a major sports market, the Flyers leverage their city’s enthusiasm for hockey to maintain robust financial performance.
The team’s management has also capitalized on the Flyers’ storied past, engaging fans through various marketing and community outreach programs, ensuring a steady stream of revenue despite varying success on the ice.
This blend of market size, historical significance, and fan loyalty solidifies the Flyers’ position as one of the most profitable teams in the NHL.
7. Chicago Blackhawks – $228 million in Revenue
Despite being at the bottom of the standings in recent years, the Blackhawks continue to make money hand over fist. Their run during the 2010s—when they won three Stanley Cup championships—fueled much of their success.
Even more interestingly, the revenues may only be just starting to climb. The Blackhawks nabbed the impossibly valuable #1 overall pick in the 2023 NHL Draft, grabbing “the Next One” Connor Bedard.
His selection has already fueled record season ticket sales. His name and number will definitely be wins for the Blackhawks, who are sure to sell a ton of jerseys with their logo.
If Connor Bedard lives up to the hype, his contribution to the team could be invaluable. This could be as much as $110 million or more over time, as reports say that Bedard will draw in a lot of coverage and popularity, helping attendance and TV ratings.
6. Boston Bruins – $239 million in Revenue
The Original Six is going to have a major impact on this list. If we were talking about the values of each franchise, the Original Six would account for the top five spots. But we’re focused on yearly revenue, and the Bruins are still a giant.
The Boston Bruins had another strong season in 2023-2024, continuing their financial success with $239 million in total revenue.
The Bruins started the season with an impressive 8-0-1 record in October, showing their consistent ability to draw in large crowds and generate significant income from ticket sales and merchandise.
Although they did not replicate the record-breaking success of the previous year, they maintained a competitive edge throughout the season and secured a playoff spot. This ongoing performance keeps the Bruins as one of the top revenue-generating teams in the league.
For now, the Bruins remain contenders and one of the most profitable NHL teams. Boston is hockey-crazy, and the Bruins are the most successful in a loaded professional sports landscape. And that’s why they remain one of the most valuable NHL teams in the league.
5. Edmonton Oilers – $230 million in Revenue
Here is something that won’t come as much of a shock: having one of the best and richest hockey players in the world helps you become one of the most profitable NHL teams. The Oilers have had a resurgence ever since Connor McDavid came to town, in much the same way Bedard is expected to boost revenues for the Blackhawks.
McDavid’s dominance in the world of hockey is unparalleled, and he’s poised to challenge Gretzky’s major career milestones. With five Art Ross trophies already under his belt, he’s just one step behind Gretzky’s incredible record of 10, a feat that could redefine the sport.
So long as McDavid is in the fold and continues to dominate, the Oilers will be on the short list of the most profitable NHL teams. If they can capture a Stanley Cup in the near future, there may be no limit on the Oilers’ investment potential.
4. Los Angeles Kings – $249 million in Revenue
It may come as a shock that a non-Original Six team, particularly the Kings, would not only break into the top five but also secure the#4 spot.
The Kings, however, defied expectations by amassing a significant amount of revenue in 2022-2023, a feat attributed in part to the resurgence of interest in a young, competitive team.
The Kings are also helped by a run similar to that of the Blackhawks. The franchise won a pair of Stanley Cups in the 2010s, competing directly with that dynastic Chicago group. The Kings are one of the better and more interesting teams in the West and should be for years to come.
Operating from the vibrant city of Los Angeles, where prices are inflated across the state, the Kings are well-positioned to maintain their status as one of the most profitable NHL teams. The question of whether they can translate this box office success into another triumphant run for the Stanley Cups is a thrilling prospect that only time will reveal.
3. Montreal Canadiens – $265 million in Revenue
It doesn’t matter if you were one of the worst teams in the league last year as long as you have the history, pedigree, and a passionate fanbase like the Montreal Canadiens.
Despite their poor performance in previous seasons, the Canadiens remain among the most profitable teams, generating $265 million in total revenue.
In the 2023-2024 season, the Canadiens finished with a record of 30 wins, 36 losses, and 16 overtime losses, totalling 76 points, which was not enough to make the playoffs. Despite these struggles, the team’s financial health remains robust due to its dedicated fanbase and significant market presence.
There are promising signs for the future in Montreal. Cole Caufield continues to emerge as an elite scorer, and top picks David Reinbacher and Juraj Slafkovsky are expected to become franchise anchors for years to come.
Another challenging season could mean more opportunities to secure top talent in the draft, further bolstering the team’s future prospects.
The Canadiens have won a record 24 NHL Stanley Cups. With a passionate fanbase backing them, their pursuit of the 25th championship will likely keep the Habs among the most profitable NHL teams for a long time, leveraging both their historical significance and strong brand presence.
2. New York Rangers – $265 million in Revenue
The Rangers remain one of the most popular and profitable teams in the NHL, thanks to their New York City home base. The biggest cities tend to generate quite a bit of revenue, and having the history that few other franchises have doesn’t hurt, either.
The Rangers are also the most valuable franchise in the league, with a value of just north of $2.65 billion. Their merchandising is among the best in the league, and the famed Madison Square Garden is consistently sold out to see the Rangers chase their first Stanley Cup since 1994.
In the 2023-2024 season, the New York Rangers had a solid performance. They finished the regular season with a record of 39 wins, 27 losses, and 16 overtime losses, totalling 94 points, which earned them a spot in the playoffs. Strong showings from both seasoned players and emerging talents marked their competitive play throughout the season.
The Rangers have a lot of talent on the roster right now, much of it young and still developing. They made a run to the Eastern Conference Finals just two years ago, and they can end the Cup drought in the near future. With their continued strong performance and significant market presence, the Rangers remain a financial powerhouse in the NHL.
1. Toronto Maple Leafs – $281 million in Revenue
The Toronto Maple Leafs are the most profitable NHL team. With an annual revenue of $281 million, the Leafs have outperformed other franchises thanks to their extensive fanbase, strong market presence, and consistent media coverage. Their overall team valuation stands at an impressive $2.8 billion.
The Leafs benefit significantly from playing in a hockey-centric market like Toronto, where hockey is deeply ingrained in the culture. The Scotiabank Arena is consistently sold out, and its merchandise sales are among the highest in the league. National broadcasts often feature the Leafs, further boosting their visibility and profitability.
In the 2023-2024 season, the Toronto Maple Leafs had a strong performance, finishing the regular season with a record of 46 wins, 26 losses, and 10 overtime losses, totalling 102 points. They secured a playoff spot and maintained a competitive edge throughout the season, driven by solid performances from both their star players and emerging talents.
Despite the team’s long-standing playoff struggles, the Leafs’ financial performance remains robust. Their ability to attract top talent and maintain a competitive roster keeps fans engaged and revenues high.
The team’s management, through strategic leveraging of its historical significance and passionate fanbase, has secured lucrative sponsorship deals and partnerships, solidifying its leading position in the NHL’s financial rankings.
The Toronto Maple Leafs’ combination of market size, fan loyalty, and strategic management has established them as the most profitable NHL team, showcasing the power of a well-rounded approach to sports franchise management.
🔥 Rowan’s Hot Take on The Real Value of NHL Teams
While profitability metrics often dominate discussions around the value of NHL teams, I believe the real value often lies in the less financially dominant teams like the Winnipeg Jets or Buffalo Sabres. These teams are deeply embedded in their communities and, though they may not top revenue charts, they are pivotal in fostering hockey culture and community spirit. Their impact transcends earnings, enriching the sport’s heritage and inspiring future generations. From my perspective, this champions the essence of hockey far beyond mere financial success.
Why Are the Original Six NHL Teams Financial Giants?
I’ve closely observed the league’s remarkable financial growth over the years. It’s fascinating to see how franchise values have soared from under $100 million to over $1 billion for several teams. This evolution highlights the increasing popularity and economic strength of the NHL.
The Original Six teams, particularly the New York Rangers, Toronto Maple Leafs, and Montreal Canadiens, are the financial powerhouses of the league. These teams enjoy historical prestige and benefit from immense, dedicated fanbases and prime market locations.
For instance, the Rangers lead in profitability and valuation, thanks to their substantial revenue streams from ticket sales, merchandise, and media rights in the bustling market of New York City.
Despite the challenges posed by the exchange rate between the Canadian and US dollars, the Toronto Maple Leafs have leveraged Toronto’s vast market and deep-rooted hockey culture to become the most profitable team, generating $281 million annually.
This shows the extraordinary financial clout of the Leafs in the NHL landscape. The Montreal Canadiens, with their rich history and fervent fanbase, continue to pull in $265 million in revenue, further emphasizing the enduring value of these historic franchises.
NHL Expert's View on The Most Profitable NHL Teams
NHL Expert
Rowan Fisher-Shotton
49 Articles
At the end of the day, the NHL has seen exponential growth in its franchises. There was once a time when a franchise could be acquired for less than $100 million, and now there are a few that top the $1 billion mark.
No one comes close to the value that the Original Six teams bring. The Rangers, Maple Leafs, and Canadiens continue to be a cash cow for the league, even if the two latter teams have to deal with the dreaded conversion rate between the Canadian dollar and the American dollar.
I believe that the enduring market size, historical significance, and unwavering fan loyalty make these franchises the financial cornerstone of the NHL. They continue to fuel revenue and drive growth for the league, underscoring the enduring appeal and value of the Original Six teams in today’s NHL.
FAQs About NHL’s Most Profitable Teams
What NHL team is the most profitable?
The Toronto Maple Leafs are the most profitable NHL team, generating $281 million in annual revenue and valued at $2.8 billion.
What percentage of NHL revenues come from Canadian teams?
Canadian teams account for approximately one-third of the total NHL revenue.
What is the least profitable NHL team?
The Arizona Coyotes are the least profitable NHL team, generating $127 million in total revenue annually.
How profitable is owning an NHL team?
Owning an NHL team is highly profitable. Even the least valuable franchises generate over $125 million in revenue annually, with teams like the Coyotes worth nearly $500 million.
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Sports Betting Journalist
Rowan Fisher-Shotton
49 Articles
Rowan is a highly accomplished sports betting journalist with a proven track record of over 6 years in the sports media industry. He is widely recognized for his insightful coverage and thought-provoking commentary on major leagues like the NBA, NFL, and NCAA.
Facts checked by Eamon Doggett
