The coronavirus pandemic shortened the NHL’s 2019-20 season by a sixth and deprived playoff teams of fans in the playoffs. According to a thorough analysis by Forbes, this resulted in NHL teams’ values falling on average two percent, making the first decline since 2001.
Fifteen teams lost money and nine posted double-digit operating losses as the NHL’s total revenue dropped 14 percent from the year before. The $4.4 billion in revenue kept the league’s salary cap static and depressed free agency in the fall.
Forbes added that operating income was $250 million a drop of 68 percent. “That’s left many owners scrambling for a lifeline,” Forbes said.
Normally, teams that go deep in the playoffs rake in cash due to ticket sales, merchandise, and concessions. For the last two Stanley Cup champions, the St. Louis Blues and Washington Capitals, that’s meant an extra $20 million in revenue. Instead, due to the bubble, the Tampa Bay Lightning – this year’s Stanley Cup champions – lost $8.3 million last year.
In the story, Forbes also included its annual list of the most valuable franchises in the NHL. The Capitals are the ninth most valuable team, valued at a staggering $750 million. The team made $148 million in revenue, ending the year with an operating income of $7.7 million. The biggest takeaways, at least to this writer, are that the Capitals are worth $100 million more than the Pittsburgh Penguins and that the New York Islanders lost $38 million last year – the most in the NHL.
Forbes says the NHL is expected to take an even bigger hit next season as the league still grapples with a pandemic that will keep fans out of arenas for most or all of the season.
1. New York Rangers ($1.65 billion)
2. Toronto Maple Leafs ($1.5 billion)
3. Montreal Canadiens ($1.34 billion)
4. Chicago Blackhawks ($1.085 billion)
5. Boston Bruins ($1 billion)
6. Los Angeles Kings ($825 million)
7. Philadelphia Flyers ($800 million)
8. Detroit Red Wings ($775 million)
9. Washington Capitals ($750 million)
10. Vancouver Canucks ($725 million)
11. Pittsburgh Penguins ($650 million)
12. Dallas Stars ($575 million)
13. Vegas Golden Knights ($570 million)
14. Edmonton Oilers ($550 million)
15. New Jersey Devils ($530 million)
16. New York Islanders ($520 million)
17. San Jose Sharks ($515 million)
18. St. Louis Blues ($510 million)
19. Minnesota Wild ($500 million)
20. Calgary Flames ($480 million)
21. Tampa Bay Lightning ($470 million)
22. Colorado Avalanche ($465 million)
23. Anaheim Ducks ($460 million)
24. Carolina Hurricanes ($440 million)
25. Nashville Predators ($435 million)
26. Ottawa Senators ($430 million)
27. Winnipeg Jets ($405 million)
28. Buffalo Sabres (385 million)
29. Columbus Blue Jackets ($310 million)
30. Florida Panthers ($295 million)
31. Arizona Coyotes ($285 million)
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