The Washington Capitals, under the leadership of owner Ted Leonsis, have become one of the most valuable teams in the NHL.
Sportico, a leading resource for sports business news, presented their 2024 valuations of every franchise in the league on Wednesday, and Washington is ranked ninth out of the 32 clubs. The franchise is valued at $1.86 billion, a 31-percent increase from Sportico’s estimation from last year.
Top 10 most valuable NHL franchises
| Franchise | 2024 valuation | 1-year value increase |
|---|---|---|
| Toronto Maple Leafs | $3.66 billion | 38% |
| New York Rangers | $3.25 billion | 33% |
| Montreal Canadiens | $2.93 billion | 29% |
| Boston Bruins | $2.67 billion | 50% |
| Los Angeles Kings | $2.50 billion | 45% |
| Chicago Blackhawks | $2.45 billion | 33% |
| Edmonton Oilers | $2.40 billion | 51% |
| Philadelphia Flyers | $2.29 billion | 35% |
| Washington Capitals | $1.86 billion | 31% |
| Detroit Red Wings | $1.85 billion | 35% |
Washington is ranked ninth by Sportico for the third straight season. They were ranked eighth in 2021 ($1.17 billion) but were overtaken by the Philadelphia Flyers in 2022. Leonsis originally paid Abe Polin $85 million for the Capitals franchise in 1999 — overseeing an increase in value of $1.775 billion.
The Capitals plan to make significant renovations to Capital One Arena, their home building, in the coming years, which should increase future estimations further. However, they will also be dealing with the likely departure of Alex Ovechkin, one of the greatest players in NHL history, as he wraps up the final year of his contract next season.
From a more zoomed-out perspective, all 32 NHL teams are worth over $1 billion for the first time in the league’s history. Last year, 10 teams did not reach the $1 billion mark, including the Arizona Coyotes, valued at just $675 million. Fast-forward a year, and the franchise’s move to Utah has seen its value skyrocket 78 percent to $1.2 billion.
While Utah HC’s staggering growth is most impressive, every single NHL franchise, outside of the Winnipeg Jets (19 percent), grew in value by at least 20 percent over the past year.
Utah’s rise from the bottom leaves the Columbus Blue Jackets ($1.06 billion) as the league’s least valuable club. Columbus is joined in the bottom five by Winnipeg ($1.1 billion), the Buffalo Sabres ($1.13 billion), the Ottawa Senators ($1.14 billion), and Utah ($1.2 billion).
