Canadiens valuation climbs to $5.4B as Leafs stay NHL’s richest team

The Montreal Canadiens’ franchise value continues to surge. In its latest NHL valuations published Tuesday, Sportico now lists the club at $5.4 billion CAD, a 15% increase compared with a year ago. In U.S. dollars, the Canadiens are valued at $3.8 billion US, keeping the club firmly among the league’s financial heavyweights.

Revenues rise in Montreal and across the NHL

Sportico estimates the Canadiens generated $364 million US in revenue during the 2025-26 season, up from $335 million US the previous year, a gain of 9%. That campaign stretched into late May thanks to a deep playoff run, which helped lift overall income for the organization.

League-wide, the NHL’s 32 teams combined for an estimated $8.3 billion US in revenue in 2025-26, an average of $259 million US per club. Sportico’s revenue figures include non-hockey events staged in team-owned or team-operated arenas, such as concerts and other live shows, not just NHL games.

Team revenues rose 4.4% year over year, and Sportico projects even stronger growth ahead. With a new Canadian broadcast-rights agreement kicking in for 2026-27, the outlet expects league revenues to jump by roughly 8% to 9% next season.

Maple Leafs still on top, Canadiens remain near the front of the pack

Despite Montreal’s gains, the Toronto Maple Leafs remain atop Sportico’s NHL rankings. Toronto is valued at $4.8 billion US, or about $6.8 billion CAD, putting the Leafs $1 billion US ahead of the Canadiens and up 13% from last year. The New York Rangers once again occupy second place at $4.15 billion US after a 14% increase in value.

Rounding out the top tier are the Los Angeles Kings and Boston Bruins, each valued at $3.3 billion US, followed by the Chicago Blackhawks at $3.2 billion US. The Philadelphia Flyers and Edmonton Oilers come in at $3.1 billion US apiece, while the New Jersey Devils and New York Islanders are both pegged at $2.7 billion US.

The Islanders post the largest year-over-year jump in the league, with their valuation climbing 40%. At the other end of the table, the Columbus Blue Jackets are listed as the NHL’s lowest-valued franchise at $1.5 billion US, though that figure still represents a 15% increase. The Winnipeg Jets, Buffalo Sabres and Ottawa Senators are all in a similar valuation range, according to Sportico.

Average franchise value soars, Rogers deal boosts outlook

On average, Sportico now values an NHL franchise at $2.43 billion US, up 16% compared with 2025 and 160% over the past five years. The publication says its figures are based on discussions with bankers, investors, lawyers, team executives and owners, and factor in real estate assets and related businesses such as AHL affiliates and arena operations.

Future growth is expected to be driven in part by the new Canadian television deal. Rogers Communications signed an $11-billion agreement with the NHL last year that extends national broadcast rights for 12 additional seasons. That figure is double the $5.2 billion the Ontario-based company committed to in its original rights package announced in 2013 for the Sportsnet network.

For the Canadiens, the latest valuation underscores how dramatically the franchise’s worth has climbed since a group led by the Molson family purchased the club and its arena in 2009 in a transaction valued at $575 million US. Less than two decades later, Montreal sits in the upper echelon of NHL teams whose values are now measured in multi-billion-dollar terms.