NHL Team Valuations Cross $4B, Led by Maple Leafs at $5.4B in 2026

For the first time, NHL team valuations have exceeded $4 billion, with the Toronto Maple Leafs leading at $5.4 billion. The New York Rangers are valued at $4.7 billion, and the Montreal Canadiens at $4.1 billion. The average NHL team valuation increased 23% year-over-year to $2.71 billion.

While the Pittsburgh Penguins sold for $1.8 billion 18 months ago, recent minority stake sales indicate higher current valuations. A 12.5% stake in the Carolina Hurricanes valued the team at $2.66 billion, and a 15% stake in the New York Islanders is close to selling at a $3 billion valuation. These transactions reflect the rising demand and high media content value in NHL ownership.

The NHL's national media rights deals with Walt Disney and Warner Bros. Discovery amount to around $650 million per year through the 2027-28 season. Last season, NHL's regular season viewership on ESPN/ABC and TNT Sports averaged 546,000 viewers, up 25% from the previous year and the highest in over a decade. The 2026 Stanley Cup Playoffs averaged 1.8 million viewers in the U.S., a 68% increase from 2025 and the highest playoffs viewership since 1994.

This growth in valuations is supported by expected expansion fees from new teams, projected to surpass $2 billion, compared to the $650 million fee paid by the Seattle Kraken in 2021-22. League revenues averaged $257 million per team for the 2025-26 season, up 6% from the previous year. This trend indicates strong revenue growth and increasing valuation multiples, important for investors assessing NHL franchise opportunities.