The National Hockey League is commanding more respect when it comes to team values.The average NHL team is worth $1.92 billion, according to CNBC’s Official 2024 NHL Valuations, and recent transactions come at revenue multiples that rival deals done in Major League Baseball.What accounts for the league’s ascension?Steady revenue growth combined with a hard salary cap and a leaguewide revenue-sharing system all but ensure profitability for the league’s 32 teams.For the 2023-24 season, the NHL’s hockey-related revenue was $6.3 billion, 8.6% higher than the previous season, according to the league. The NHL also hit record national sponsorship revenue last season, bringing in $250 million, as well as record regular-season gate receipt revenue of $2.4 billion, the NHL said.That growth, combined with richer media deals, is contributing to a better bottom line for professional hockey. The average NHL team posted EBITDA of $45 million on revenue of $223 million for the 2023-24 season, according to CNBC calculations.Here is how the NHL’s 32 teams stack up:CNBC’s Official NHL Team Valuations 2024RankTeamValueRevenue EBITDA Debt as % of ValueOwner(s)1.Toronto Maple Leafs$4B$324M$139.5M5%Rogers Communications, BCE, Larry Tanenbaum2.New York Rangers$3.5B$317M$80M1%Madison Square Garden Sports3.Montreal Canadiens$3.1B$302M$111.2M7%Molson family4.Los Angeles Kings$2.85B$337M$110.1M4%Philip Anschutz5.Boston Bruins$2.75B$280M$78.8M4%Jeremy Jacobs6.Edmonton Oilers$2.65B$379M$156.9M3%Daryl Katz7.Chicago Blackhawks$2.6B$265M$103.3M4%Wirtz family8.Philadelphia Flyers$2.25B$247M$39M0%Comcast9.Washington Capitals$2.1B$246M$79.3M9%Ted Leonsis10.Detroit Red Wings$2.05B$239M$34.3M4%Marian Ilitch11.New Jersey Devils$2B$267M$50.4M6%David Blitzer, Josh Harris12.Vancouver Canucks$1.95B$226M$31.1M6%Aquilini Investment Group13.Dallas Stars$1.9B$244M$80.6M8%Tom Gaglardi14.Vegas Golden Knights$1.85B$221M$49.4M8%Bill Foley15.Tampa Bay Lightning$1.8B$220M$39.7M12%Doug Ostrover, Marc Lipschultz, Jeff Vinik16.New York Islanders$1.77B$207M$29.2M18%Jon Ledecky, Scott Malkin17.Pittsburgh Penguins$1.75B$218M$42.3M11%Fenway Sports Group18.Calgary Flames$1.7B$183M$29M5%N. Murray Edwards19.Colorado Avalanche$1.65B$195M$20.6M21%Stan Kroenke20.Seattle Kraken$1.6B$184M$19.4M29%David Bonderman, Samantha Holloway21.Minnesota Wild$1.55B$202M$31.5M11%Craig Leipold22.Nashville Predators$1.5B$192M$27.8M7%Bill Haslam23.St. Louis Blues$1.47B$189M$6.5M9%Tom Stillman24.Anaheim Ducks$1.43B$175M$20.1M21%Henry Samueli, Susan Samueli25.San Jose Sharks$1.4B$168M($3.3M)4%Hasso Plattner26.Florida Panthers$1.35B$181M$6.6M12%Vincent Viola27.Carolina Hurricanes$1.3B$184M$25.4M15%Tom Dundon28.Utah Hockey Club$1.2B$119M($6.3M)26%Ryan Smith, Ashley Smith29.Ottawa Senators$1.18B$154M$3.8M23%Michael Andlauer30.Buffalo Sabres$1.15B$169M$15.8M4%Terry Pegula, Kim Pegula31.Winnipeg Jets$1.1B$163M$1.3M12%Mark Chipman, David Thomson32.Columbus Blue Jackets$1B$148M($1.5M)13%John McConnell, Nationwide …
