The Edmonton Oilers aren’t just battling for wins on the ice. Off it, the franchise is starting to inch into a different kind of fight, one that measures dollars, not goals.
For years, the Oilers were seen as a traditional Canadian market with a passionate fan base but limited financial muscle. That story is beginning to change. A new set of team valuations paints a picture of a club creeping closer to the NHL’s heavyweights, narrowing the distance between Edmonton and franchises that once seemed far out of reach.
How Close Are the Oilers to Joining Hockey’s Wealthiest Franchises?
Sportico’s latest report listed Edmonton at $2.76 billion in overall value, a 15% jump from a year ago. That puts the Oilers in sixth place among NHL clubs, just behind the Los Angeles Kings at $2.96 billion.
The only teams ahead of them? The Toronto Maple Leafs, New York Rangers, Montreal Canadiens, Boston Bruins, and the Los Angeles Kings.
Back-to-back runs to the Stanley Cup Final have put the Oilers under a brighter spotlight than ever before. Tickets are nearly impossible to find, merchandise sales have skyrocketed, and broadcasts featuring Connor McDavid regularly draw some of the league’s highest ratings.
Those factors, combined with steady growth from the ICE District around Rogers Place, have helped turn hockey nights into full downtown events.
The Oilers are not only moving up the rankings but outperforming nearly everyone in pure revenue. Sportico estimated they pulled in $388 million last season, the highest figure in the NHL, even topping Toronto.
That kind of money is the result of sellout crowds, playoff runs that stretch into June, and a global star in McDavid whose jersey remains one of the league’s best sellers year after year.
Owner Daryl Katz’s investments in Rogers Place and the surrounding real estate have also been critical. What started as a controversial $600 million project has evolved into a landmark development that anchors downtown Edmonton and generates long-term economic benefits.
The Business Boom Behind Edmonton’s Growth
It’s easy to forget that the Oilers once sold for just $25,000 back in 1971. Even Katz’s $200 million purchase in 2008 looks like a bargain today compared to the multibillion-dollar figure now attached to the team.
Few organizations in the league have seen such a steep financial climb over the past two decades.
The challenge now shifts from growing revenue to sustaining it. The NHL’s salary cap is projected to rise in the coming years, which should give Edmonton flexibility. But McDavid’s next contract looms in the distance, and whatever number he signs for will ripple through the balance sheet.
The Oilers sit just outside the league’s top five most valuable teams. If they can keep their playoff window open and keep McDavid in blue and orange, it may only be a matter of time before they crack that list.