Annual Forbes NHL ranking values Ottawa Senators at $435M, 23rd in the league

Melnyk
Ottawa Senators owner Eugene Melnyk at the Sens Soiree earlier this year. File photo.

The Ottawa Senators franchise is among the National Hockey League’s 10 lowest-valued teams, according to an annual ranking by Forbes.

The Sens franchise is valued at $435 million, four per cent higher than last year (all figures in USD). That’s less than a third the value of the top two teams in the league, the New York Rangers ($1.55 billion) and the Sens’ Ontario rivals, the Toronto Maple Leafs ($1.35 billion).

The team ranks 23rd out of 31 teams in the league and second from the bottom across the seven Canadian franchises, with the Winnipeg Jets coming in at No. 27.

Forbes reports annual revenue for the team at $124 million with an operating income of $1.6 million.

The Senators currently sit at the bottom of the Atlantic Division with a losing record after falling to the Montreal Canadiens on Tuesday night.

The local team has also been mired in controversy and low attendance in recent seasons. The trade of star captain Erik Karlsson aside, Senators owner Eugene Melnyk has recently made headlines with his lawsuit against local developer John Ruddy, which has seen the supposed end to their joint bid to redevelop LeBreton Flats with a new downtown arena for the club.

The Canadian teams are rounded out by Montreal (third, $1.3 billion), Vancouver (ninth, $735 million), Edmonton (13th, $540 million), Calgary (20th, $450 million) and Winnipeg (27th, $415 million). The Jets' value jumped 11 per cent thanks to the team's run to the Western Conference final last spring.

Original Six clubs make up the top five of the list, with the Chicago Blackhawks fourth at $1.05 billion and the Boston Bruins fifth at $925 million. The Detroit Red Wings are not far behind their Original Six cousins in eighth ($775 million) and have seen an 11 per cent increase in value thanks to a new downtown arena.

Los Angeles (sixth, $810 million), Philadelphia (seventh, $800 million) and Washington (10th, $725 million) round out the top 10. The Capitals enjoyed a league-best 16 per cent boost in valuation over last year thanks to a run to their first ever Stanley Cup title.

The Vegas Golden Knights had a 15 per cent boost in value to $575 million, good for 12th in the league, after becoming the first expansion team to advance to the Cup final.

At the other end of the list are the Florida Panthers (30th, $295 million) and Arizona Coyotes (31st, $290 million). The clubs were the only two to lose value, according to Forbes, down three per cent each.

According to the list, the value of the average NHL team rose six per cent during the past year, to a record $630 million.

The release of the list comes on the heels of the NHL approving a 32nd team in Seattle for a hefty expansion fee of $650 million.

– With files from OBJ Staff