The Toronto Maple Leafs look like a great team on the ice, but somehow off the ice, things look even better.
In the latest appraisal by Sportico of NHL franchises, the franchise value of the Leafs remains at the top of the league, valued at $3.66B. This is a 38% increase year-over-year.
NHL business is booming
The NHL as a whole saw revenue grow dramatically, with every single team reporting more than 20% growth. 38% growth is about the middle of the pack, with the Edmonton Oilers and Utah Hockey Club leading the league.
The league really struggled during the COVID-19 Pandemic, and now that the lockdowns appear behind us, the league has taken major steps forward in terms of their revenue. Overall increased revenue which led to the increasing salary cap coupled with new TV deals and agreements and more contributed to this across the league.
Every single team reported a value of greater than $1B, which is massive for the overall health of the league.
The Maple Leafs’ value
The Leafs remain of the league’s most valuable franchise by some distance this year. The New York Rangers grew by 33% to $3.25B. They are the only other team above $3B. The Montreal Canadiens took the third spot at $2.93B.
Interestingly, the Leafs finished third in overall revenue at $346M. This was an increase of $19M from 2023, but the Rangers and Oilers finished ahead of them. This is likely due to those teams having more revenue from playoff games.
The Leafs are also not first in related business revenue, where they sit fifth. This is revenue from other business lines, particularly real estate. Being in downtown Toronto as opposed to a less-nice part of Edmonton, there isn’t much land for MLSE to buy and develop. There are a number of owned assets, including E11even inside Maple Leaf Square Condos, which was developed by MLSE, but there is an opportunity for more here.
Here is how the Canadian franchises stack up for 2024.
| Canadian Team | Value | League Rank |
|---|---|---|
| Toronto Maple Leafs | $3.66B | 1st |
| Montreal Canadiens | $2.93B | 3rd |
| Edmonton Oilers | $2.40B | 7th |
| Vancouver Canucks | $1.73B | 13th |
| Calgary Flames | $1.58B | 18th |
| Ottawa Senators | $1.14B | 29th |
| Winnipeg Jets | $1.1B | 31st |
The Leafs’ future value
The Leafs continmue to be an incredibly valuable franchise, and a model for the rest of the league. And while this revenue won’t win the team more playoff rounds, it does show that the franchise is trending the right direction.
Expect the pretty picture to continue for the team.
