The Washington Capitals are a valuable sports franchise.
Sportico, a leading resource for sports business news, presented its 2025 valuations of every team in the NHL on Wednesday, and the Caps are ranked ninth out of the 32 clubs.
While that ranking may not sound impressive, the valuation certainly is. Sportico estimates the Capitals crossed the $2 billion mark for the first time and are worth $2.3 billion. The franchise’s valuation has increased by 24 percent from the $1.86 billion valuation it received at the same time last year.
Twelve of the 32 NHL franchises are estimated to be worth over $2 billion. The Toronto Maple Leafs are the most valuable in the league, receiving a $4.25 billion valuation from Sportico — worth about $2 billion more than the Capitals.
The New York Rangers ($3.65 billion), Montreal Canadiens ($3.3 billion), Boston Bruins ($3 billion), Los Angeles Kings ($2.96 billion), Edmonton Oilers ($2.76 billion), Chicago Blackhawks ($2.74 billion), and Philadelphia Flyers ($2.66 billion) are the only other teams worth more than the Caps.
The Capitals have now been ranked ninth by Sportico for four consecutive years. They sat eighth in 2021 ($1.17 billion) but were overtaken by the Flyers in 2022. Current owner Ted Leonsis originally paid Abe Polin $85 million for the Capitals franchise in 1999 — overseeing an increase in value of $2.215 billion.
The team is currently executing significant renovations to Capital One Arena, their home building, which should further increase future estimations. However, the Capitals will also be dealing with the potential departure of Alex Ovechkin, the NHL’s greatest goal scorer, as he wraps up the final year of his contract this season.
The Capitals are one of just 10 clubs to have seen a 20 percent or more increase since last year. The Florida Panthers ($1.89 billion), coming off back-to-back Stanley Cup wins, saw the most significant value growth (51 percent) and jumped nine spots from 26th to 17th on the list. Surprisingly, the Carolina Hurricanes ($1.92 billion) jumped 10 places from 25th to 15th, the largest leap by any team, with a 49 percent increase in value.
On the other end of the spectrum, the San Jose Sharks ($1.49 billion) experienced the least growth of any franchise (five percent) and were one of three clubs (Vancouver and Tampa Bay) to drop five spots in the rankings, the largest decline of any team. The Columbus Blue Jackets ($1.3 billion) remain the least valuable club in the league, with the Winnipeg Jets ($1.33 billion), Ottawa Senators ($1.34 billion), Buffalo Sabres ($1.36 billion), and the Utah Mammoth ($1.44 billion) not far ahead of them.
According to the results, the average NHL team is worth $2.1 billion. The joint valuations mark only the second year in league history where every single team is worth at least $1 billion.
