Forbes ups Islanders' value to $300 million; Rangers at $1.1 billion
Derick Brassard of th Rangers attempts a second-period shot as Johnny Boychuk of the Islanders defends at Madison Square Garden on Tuesday, Oct. 14, 2014. Credit: Jim McIsaac
The Islanders aren't just moving up the NHL standings -- they've risen in Forbes' NHL franchise valuation rankings, as well.
Forbes puts the Islanders' value at $300 million, up 54 percent, and with $83 million in revenue for 2013-14. The Islanders are ranked 22nd in value among the 30 NHL teams, according to Forbes. Their ranking rose from 26th a year ago, when the Islanders were valued at $195 million.
Owner Charles Wang's sale of a share of the team to Jonathan Ledecky and Scott Malkin for a prorated portion of $485 million plus the move to Brooklyn's Barclays Center next season clearly improved the team's financial outlook.
The Rangers are one of three NHL teams worth more than $1 billion. In a review that found NHL teams are worth an average of $490 million, an all-time high, Forbes estimated that the Rangers are worth $1.1 billion, up 29 percent from the previous review and with an estimated $217 million in revenue. The Rangers' value rose from $850 million last year.
The Toronto Maple Leafs are No. 1, at $1.3 billion (up 13 percent), and the Montreal Canadiens are valued at $1 billion (up 29 percent).
According to Forbes, the overall increases were largely due to the beginning of a 12-year, $4.6-billion broadcasting deal, which gave Rogers Communications rights to all NHL games in Canada, including the Stanley Cup playoffs and Stanley Cup Final, on all of its platforms. It is worth 2.6 times more annually than the league's previous Canadian deals.
The Dolan family owns controlling interests in the Rangers, Madison Square Garden and Cablevision.
Cablevision owns Newsday.
