Rangers named most valuable NHL franchise by Forbes
New York Rangers goalie Henrik Lundqvist looks on against the St. Louis Blues in the second period of a game at Madison Square Garden on Thursday, Nov. 12, 2015. Credit: Kathleen Malone-Van Dyke
The Rangers have been beating most comers on the ice so far this season. On Tuesday, they took down a perennial off-ice champion -- ending the Maple Leafs' decadelong run as the most valuable team in the NHL, as calculated by Forbes.
The magazine website reported that for the first time since 2004, it has the Rangers as the most valuable team in the league at an estimated $1.2 billion after it generated an estimated league-high $229 million in revenue last season.
That figure was boosted by a number of factors, including the $1-billion renovation of Madison Square Garden and deep playoff runs in both 2014 and '15.
Forbes said the Rangers took in more than $95 million from premium seating and in-arena advertising, also league highs. It pegged the Rangers' 2014-15 operating income at $83.1 million.
The Canadiens moved up from third to second on the valuation list at $1.18 billion and the Maple Leafs fell to third at $1.15 billion. Toronto had topped Forbes' list since 2006. The average NHL team is worth $505 million, Forbes estimated.
The Dolan family owns controlling interests in the Rangers, Madison Square Garden and Cablevision. Cablevision owns
Newsday.
Neil Best first worked at Newsday in 1982, returned in 1985 after a detour to Alaska and has been here since, specializing in high schools, college basketball, the NFL and most recently sports media and business.
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