NEW YORK, N.Y. - The Toronto Maple Leafs are the first NHL team worth US$1 billion, according to Forbes magazine.

The Leafs, who have not won a Stanley Cup since 1967, are worth $250 million more than the next most valuable franchise, the New York Rangers. The Montreal Canadiens are worth $575 million.

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  • 15. San Jose Sharks

    $223 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Alamy

  • 14. Edmonton Oilers

    $225 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Alamy

  • 13. Dallas Stars

    $240 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Getty Images

  • 12. Calgary Flames

    $245 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Alamy

  • 11. Washington Capitals

    $250 million. <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> GETTY IMAGES

  • 10. LA Kings

    $276 million. <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a>

  • 9. Pittsburgh Penguins

    $288 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Pittsburgh Penguins captain Sidney Crosby skates during an informal workout with teammates at the Iceoplex in Canonsburg, Pa., on Thursday, Oct. 11, 2012. The NHL would've opened the regular season on Thursday if it weren't for the current lockout. (AP Photo/Keith Srakocic

  • 8. Philadelphia Flyers

    $336 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> FILE - This April 7, 2012 file photo shows Philadelphia Flyers goalie Sergei Bobrovsky keeping his eye on the action during the first period of an NHL hockey game against the Pittsburgh Penguins, in Pittsburgh. The Flyers have traded Bobrovsky to the Columbus Blue Jackets for three draft choices. (AP Photo/Gene J. Puskar, File)

  • 7. Vancouver Canucks

    $342 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Vancouver Canucks' goalie Cory Schneider uses his blocker to deflect a Los Angeles Kings shot away from the net during the second period of game 5 of an NHL Western Conference quarterfinal Stanley Cup playoff hockey series in Vancouver, British Columbia on Sunday April 22, 2012. (AP Photo/The Canadian Press, Darryl Dyck)

  • 6. Detroit Red Wings

    $346 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> This Feb. 23, 2012 file photo shows Detroit Red Wings center Darren Helm celebrating his goal against the Vancouver Canucks in the first period of an NHL hockey game in Detroit. Helm has agreed to a four-year deal to remain with the Detroit Red Wings. General manager Ken Holland announced the contract Tuesday, June 19, 2012. (AP Photo/Paul Sancya, File)

  • 5. Boston Bruins

    $348 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> This March 19, 2012 file photo shows Boston Bruins' Tyler Seguin during an NHL game against the Toronto Maple Leafs in Boston. The Bruins continued their pre-lockout signing strategy Tuesday, Sept. 11, 2012, agreeing with Seguin on a six-year, $34 million contract extension. (AP Photo/Winslow Townson, File)

  • 4. Chicago Blackhawks

    $350 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Head coach Joel Quenneville of the Chicago Blackhawks and (L-R) Viktor Stalberg #25, Patrick Kane #88, Jonathan Toews #19, Bryan Bickell #29 and Brendan Morrison #17 watch the closing minutes from the bench against the Phoenix Coyotes in Game Six of the Western Conference Quarterfinals during the 2012 NHL Stanley Cup Playoffs at the United Center on April 23, 2012 in Chicago, Illinois. The Coyotes defeated the Blackhawks 4-0 to win the series 4 games to 2. (Photo by Jonathan Daniel/Getty Images)

  • 3. Montreal Canadiens

    $575 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Montreal Canadiens' Francis Bouillon arrives for an informal hockey training session, Monday, Sept. 17, 2012, at the team's training facility in Brossard, Quebec. (AP Photo/The Canadian Press, Graham Hughes)

  • 2. New York Rangers

    $750 million <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> New York Rangers goalie Martin Biron looks on during an informal NHL hockey practice in Amherst, N.Y., Monday, Sept. 24, 2012. (AP Photo/David Duprey)

  • 1. Toronto Maple Leafs

    $1 billion <a href="http://www.forbes.com/nhl-valuations/list/">Read the entire list on Forbes</a> Toronto Maple Leafs players acknowledge the crowd at the end of their last home game of the season as they defeated the Tampa Bay Lightning during overtime NHL hockey game action in Toronto, Thursday, April 5, 2012. (AP Photo/The Canadian Press, Nathan Denette)


The Chicago Blackhawks ($350 million), Boston Bruins ($348 million) and Detroit Red Wings ($346 million) round up the top six, meaning the league's six original franchises are also its most valuable.

The Vancouver Canucks are the next Canadian team on the list, in seventh at $342 million. The Calgary Flames are in 12th at $245 million, the Edmonton Oilers are ranked 14th at $225 million, the Ottawa Senators 16th at $220 million and the Winnipeg Jets 20th at $200 million.

The Jets saw their value jump after their first full season in Winnipeg. Forbes valued the franchise at $164 million last year and at $135 million in 2010, before the team moved north.

Least valuable of the 30 teams are the St. Louis Blues at $130 million and the Phoenix Coyotes at $134 million.

The Stanley Cup champion Los Angeles Kings are worth $276 million, 10th overall.

Forbes says the NHL's total revenues were $3.4 billion for the 2011-12 season. Fuelled by that nine per cent increase, the average NHL team is worth $282 million, 18 per cent more than a year ago.

With the players locked out by owners, the NHL already has cancelled 422 regular-season games. Forbes reports that 13 teams lost money last season.

The Leafs, Rangers (last Stanley Cup in 1994) and Canadiens (last title in 1993) account for 83 per cent of the league's income, with Toronto the most profitable franchise at $81.9 million, followed by the Rangers at $74 million and Montreal at $51.6 million.

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Online: www.forbes.com/nhl-valuations

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