- Sportico’s 2026 NHL team valuations are out, and Toronto is on top again
- A record 20 franchises are now worth more than $2 billion
- Read below for the full 32-team valuation table and the biggest risers and fallers
Toronto is still the NHL’s most valuable team, and it isn’t especially close.
Sportico released its annual NHL team valuations Tuesday, compiled by Kurt Badenhausen, and the Maple Leafs came in at $4.8 billion. That marks six straight years at No. 1 for the Leafs, whose value climbed 13 percent from last year.
Take a look at the top 10:
Only the Rangers join Toronto in the $4 billion club, checking in at $4.15 billion after a 14 percent jump. Montreal holds third at $3.8 billion.
Los Angeles and Boston swapped spots from a year ago. The Kings moved up to fourth at $3.33 billion, with the Bruins right behind at $3.31 billion.
Money keeps piling up across the league. The average NHL team is now worth $2.43 billion, up from $2.1 billion last year, and all 32 clubs combine for $77.8 billion. Back in 2022, the average sat at $1.01 billion.
Eight teams clear $3 billion. A record 20 franchises are now worth more than $2 billion.
Nobody climbed faster than the Islanders.
New York’s value shot up a league-high 40 percent to $2.7 billion, moving the club from 14th to 10th. Sportico also reported Monday that the Isles agreed to sell roughly 15 percent of the team at a $3 billion valuation to a group of investors that includes David Shuman, whose minority stake in the Islanders was announced last month.
Calgary made a big move too, jumping five spots to 14th at $2.24 billion.
Pittsburgh went the other way. The Penguins slid from 23rd to 26th at $1.75 billion after growing just 3 percent, the smallest bump in the league.
Florida, Vancouver, San Jose and St. Louis each dropped two spots. Columbus sits last at $1.5 billion, just behind Winnipeg ($1.52 billion) and Buffalo ($1.53 billion).
Here’s where all 32 teams landed:
| Rank | Team | Value |
|---|---|---|
| 1 | Toronto Maple Leafs | $4.8B |
| 2 | New York Rangers | $4.15B |
| 3 | Montreal Canadiens | $3.8B |
| 4 | Los Angeles Kings | $3.33B |
| 5 | Boston Bruins | $3.31B |
| 6 | Chicago Blackhawks | $3.24B |
| 7 | Philadelphia Flyers | $3.15B |
| 8 | Edmonton Oilers | $3.11B |
| 9 | New Jersey Devils | $2.72B |
| 10 | New York Islanders | $2.7B |
| 11 | Washington Capitals | $2.67B |
| 12 | Vegas Golden Knights | $2.41B |
| 13 | Detroit Red Wings | $2.4B |
| 14 | Calgary Flames | $2.24B |
| 15 | Carolina Hurricanes | $2.22B |
| 16 | Tampa Bay Lightning | $2.2B |
| 17 | Colorado Avalanche | $2.18B |
| 18 | Dallas Stars | $2.17B |
| 19 | Florida Panthers | $2.15B |
| 20 | Vancouver Canucks | $2.05B |
| 21 | Minnesota Wild | $1.97B |
| 22 | Anaheim Ducks | $1.92B |
| 23 | Seattle Kraken | $1.9B |
| 24 | Nashville Predators | $1.85B |
| 25 | San Jose Sharks | $1.78B |
| 26 | Pittsburgh Penguins | $1.75B |
| 27 | Utah Mammoth | $1.71B |
| 28 | St. Louis Blues | $1.7B |
| 29 | Ottawa Senators | $1.55B |
| 30 | Buffalo Sabres | $1.53B |
| 31 | Winnipeg Jets | $1.52B |
| 32 | Columbus Blue Jackets | $1.5B |
Players are getting a piece of the boom as well, with league revenue outrunning payroll to the point of a record $170 million payout on top of their 2025-26 salaries.
