In the National Hockey League, franchise value reflects more than revenue streams or market size — it captures legacy, cultural significance, and the depth of emotional investment from generations of fans. According to Forbes, the NHL’s most valuable teams are organizations that have successfully combined history, market influence, and sustained visibility to build brands that extend far beyond the rink. At the forefront stands the Toronto Maple Leafs, a franchise whose financial strength mirrors the intensity of hockey culture in Canada’s largest city. Close behind, the New York Rangers leverage the global spotlight of Manhattan to maintain elite commercial power, while the Montreal Canadiens remain a living symbol of the sport’s heritage and tradition.
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Further west, the Edmonton Oilers embody the connection between historic greatness and modern star-driven excitement, proving how past dynasties can shape long-term brand strength. Meanwhile, the Los Angeles Kings represent the league’s successful expansion into major U.S. entertainment markets, showing how competitive success can cultivate new generations of fans in nontraditional hockey regions.
Together, these franchises illustrate the evolving economics of professional hockey. Their value is driven not only by championships and star players, but also by media reach, arena experiences, and regional identity. Each team reflects a different pathway to prominence — whether rooted in century-old tradition, global city visibility, or strategic market growth — yet all share one defining trait: they have become institutions that shape the NHL’s financial and cultural landscape.
Toronto Maple Leafs
The Toronto Maple Leafs celebrate a goal scored by forward John Tavares (91) during the third period against the Edmonton Oilers at Rogers Place. Credit: Perry Nelson-Imagn Images
Franchise value: $4.4B
Hockey’s financial heavyweight thrives in one of the sport’s most passionate markets. The Maple Leafs command extraordinary media attention and fan devotion, regardless of postseason outcomes. Their brand extends far beyond Toronto, representing tradition and prestige across Canada. Few teams generate as much anticipation every single season.
New York Rangers
New York Rangers defenseman Matthew Robertson (29) celebrates his overtime game winning goal against the Boston Bruins with center Mika Zibanejad (93) at Madison Square Garden. Credit: Brad Penner-Imagn Images
Franchise value: $4.0B
Playing in the heart of Manhattan gives the Rangers unmatched visibility and commercial strength. The franchise blends Original Six history with the energy of one of the world’s biggest sports markets. Madison Square Garden amplifies their profile as a premier entertainment destination. Their value reflects both market power and enduring legacy.
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Montreal Canadiens
Montreal Canadiens celebrate a victory against the Winnipeg Jets at Canada Life Centre. Credit: James Carey Lauder-Imagn Images
Franchise value: $3.4B
No team embodies hockey tradition quite like the Canadiens. Their record-setting championship history and deep cultural roots in Quebec make them central to the sport’s identity. Generations of fans view the team as a symbol of heritage and pride. Even through rebuilding cycles, their legacy remains untouchable.
Edmonton Oilers
The Edmonton Oilers celebrate a goal scored by forward Kasperi Kapanen (42) during the third period against the Toronto Maple Leafs at Rogers Place. Credit: Perry Nelson-Imagn Images
Franchise value: $3.2B
The Oilers’ brand is fueled by legendary history and modern superstar appeal. Their dynastic success in past decades still shapes their reputation, while elite talent keeps them firmly in the spotlight today. In a hockey-centric market, the team commands intense loyalty and attention. Their value reflects both nostalgia and present-day excitement.
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Los Angeles Kings
Los Angeles Kings left wing Andrei Kuzmenko (96) warms up before the start of a game against the Vegas Golden Knights at T-Mobile Arena. Credit: Stephen R. Sylvanie-Imagn Images
Franchise value: $3.1B
The Kings helped expand hockey’s footprint in Southern California with championship success and growing fan engagement. Their modern arena experience and entertainment-driven market boost their commercial strength. Winning titles in the 2010s elevated the franchise from regional curiosity to established contender. They represent the NHL’s successful growth into major U.S. markets.
Conclusion
New York Rangers right wing Taylor Raddysh (14) celebrates his goal against the New York Islanders during the second period at UBS Arena. Credit: Dennis Schneidler-Imagn Images
Ultimately, the NHL’s most valuable franchises demonstrate that financial strength follows enduring relevance. Whether built on history, market influence, or modern success, these teams have transcended competition to become defining pillars of the sport — proof that in hockey, legacy and loyalty are just as valuable as performance on the ice.
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