According to Sportico’s latest list of the NHL’s most valuable franchises, the Edmonton Oilers are the seventh most valuable team, now valued at $2.4 billion USD. This marks a massive 51% jump in value from last year, highlighting the impact of years of investment, both on and off the ice. For Oilers fans who remember when Daryl Katz took over the team from the EIG in 2008, seeing a valuation like this both boggles the mind and shows just how strong the appeal of hockey is in Edmonton.
When Katz bought the Oilers for $200 million CAD — about $170 million USD — back in February 2008, it took until his fourth bid before a deal was made. Starting with an original offer of $145 million by Katz 10 months before finally hitting the right number, the Edmonton Investors Group rejected his first three bids before accepting an offer in December 2007 for $22,000 per share. So, seeing this team now valued at $2.4 billion (!!!) USD really is remarkable.
At that time, Katz’s purchase marked a new chapter for the franchise, one built around a vision for a modernized Oilers team and a downtown rink and talk of how much this would do for the community. Moving from Rexall Place to Rogers Place and the development around the rink have undeniably fuelled much of this financial rise, making the Oilers not only a central piece of Edmonton’s to-do list but also a high-value property in the NHL’s expanding economic landscape.
Of course, having the best player since Gretzky on the roster certainly helps. The interest in this hockey team has soared since McDavid came to town, and while I absolutely understand the build and the land make up most of the change in value, I doubt people would be flying in front all of the world if #97 wasn’t here. Either way, despite being one of the smallest markets in the league, the Oilers are certainly making a name for themselves on the league’s balance sheet.
The NHL doesn’t have the buzz of the NBA or blockbuster media deals of the NFL, but its franchise values are soaring just as fast with the biggest gains at the bottom of the financial table.Sportico spoke to more than 30 people in and around the NHL over the last four weeks, including eight bankers and lawyers involved in team transactions, to gauge the health of the sport. We found the average team is worth an estimated $1.31 billion, up 29% from a year ago. The total value of the NHL’s 32 clubs, including ownerships’ stakes in real estate, venues, TV networks and team-related holdings, is $41.9 billion.The NHL has a hard cap on both the league and team level. You don’t have the loopholes, like in the NBA where the Warriors and Clippers are on the hook for a combined luxury tax bill of roughly $300 million both last season and the current one on top of their high payrolls. Before the NHL cap was introduced for the 2005-06 season, teams were generating on average around $20 million in cash flow after player costs but before other expenses; the average is now more than $100 million.Club revenues have benefited from the introduction of helmet sponsorships in 2020 and jersey patches two years later. Last season, the NHL launched its new digitally enhanced dasherboards, and revenue topped $50 million, which exceeded the league’s original Year 3 projections, according to someone familiar with the forecasts. Another revenue bump last season came from the concerts and event business, which hit record numbers in many cities, as fans embraced live events.
The Chicago Blackhawks ($2.45 billion), Los Angeles Kings ($2.5 billion), Boston Bruins ($2.67 billion), Montreal Canadiens ($2.93 billion), New York Rangers ($3.25 billion), and Toronto Maple Leafs ($3.66 billion) are the six teams ranked above Edmonton. In terms of other Canadian teams, the Vancouver Canucks ($1.73 billion) rank 13th, the Calgary Flames ($1.58 billion) rank 18th, the Ottawa Senators ($1.14 billion) rank 29th, and the Winnipeg Jets ($1.1 billion) rank 31st.
Sportico’s 2024 NHL Franchise Valuations
Rank | Team | 2024 Valuation | 1-year Increase |
1 | Toronto | $3.66 billion | 38% |
2 | NY Rangers | $3.25 billion | 33% |
3 | Montréal | $2.93 billion | 29% |
4 | Boston | $2.67 billion | 50% |
5 | Los Angeles | $2.5 billion | 45% |
6 | Chicago | $2.45 billion | 33% |
7 | Edmonton | $2.4 billion | 51% |
8 | Philadelphia | $2.29 billion | 35% |
9 | Washington | $1.86 billion | 31% |
10 | Detroit | $1.85 billion | 35% |
11 | Tampa Bay | $1.8 billion | 44% |
12 | Vegas | $1.77 billion | 36% |
13 | Vancouver | $1.73 billion | 44% |
14 | New Jersey | $1.7 billion | 47% |
15 | NY Islanders | $1.68 billion | 49% |
16 | Dallas | $1.65 billion | 49% |
17 | Minnesota | $1.6 billion | 36% |
18 | Calgary | $1.58 billion | 39% |
19 | Colorado | $1.57 billion | 34% |
20 | Pittsburgh | $1.47 billion | 37% |
21 | Seattle | $1.46 billion | 30% |
22 | San Jose | $1.42 billion | 34% |
23 | Nashville | $1.32 billion | 33% |
24 | St. Louis | $1.3 billion | 35% |
25 | Carolina | $1.29 billion | 32% |
26 | Florida | $1.25 billion | 37% |
27 | Anaheim | $1.24 billion | 27% |
28 | Utah | $1.2 billion | 78% |
29 | Ottawa | $1.14 billion | 20% |
30 | Buffalo | $1.13 billion | 26% |
31 | Winnipeg | $1.1 billion | 19% |
32 | Columbus | $1.06 billion | 20% |
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