{"id":194824,"date":"2025-10-01T13:57:07","date_gmt":"2025-10-01T13:57:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/194824\/"},"modified":"2025-10-01T13:57:07","modified_gmt":"2025-10-01T13:57:07","slug":"toronto-maple-leafs-lead-average-hits-2-1b","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/194824\/","title":{"rendered":"Toronto Maple Leafs Lead, Average Hits $2.1B"},"content":{"rendered":"

\n\tThe NHL<\/a> spent much of the two decades between 1992 and 2012 battling with its players\u2019 union, which led to four work stoppages\u2014three severely shortened seasons and the cancellation of the entire 2004-05 season.<\/p>\n

\n\tThat level of disagreement feels distant now, with the union and league in a period of peace. The current collective bargaining agreement is set to expire after the 2025-26 season, and the two sides ratified a new four-year deal<\/a> in June, more than a year ahead of the expiration, as both sides are prospering. The newfound harmony is another notch in the league\u2019s growth story, which has investors taking notice.<\/p>\n

\n\tThe Toronto Maple Leafs<\/a>\u00a0are the NHL\u2019s most valuable team for the fifth straight year with a $4.25 billion valuation, followed by the New York Rangers ($3.65 billion), Montreal Canadiens ($3.3 billion), Boston Bruins ($3 billion) and Los Angeles Kings ($2.96 billion).<\/p>\n

\n\tThe average NHL franchise is worth $2.1 billion, up 17% from 2024 by Sportico\u2019s calculations<\/a>, based on conversations with bankers, investors, lawyers, team executives and owners. The total is more than double the $1.01 billion average in 2022. By comparison, the three-year change for the NBA is 78%, followed by the NFL at 72% and MLB lagging at 22%.<\/p>\n<\/p>\n

\n\tThe biggest value moves have been at the bottom of the financial table. The \u201cget-in\u201d price, or the value of the lowest-ranked team, is $1.3 billion, the same as in MLB. In the real world, the sports\u2019 values were on display in Tampa, which was home to the last team sale in both the NHL and MLB. Last year, the Lightning sold for $1.8 billion, while MLB just approved<\/a> Stu Sternberg\u2019s $1.7 billion sale of the Rays.<\/p>\n

\n\tThe Maple Leafs\u2019 Stanley Cup drought reached 58 years last season, the longest in league history, but Toronto remains the sport\u2019s most dominant brand. The club is tops in the NHL for gate receipts, sponsorships and media revenue.<\/p>\n

\n\tWhile the RSN business flounders in the U.S., it remains strong in Canada for hockey, as evidenced by the Calgary Flames and Edmonton Oilers, which signed new 11-year deals with Sportsnet last year to carry their respective games at an average annual value double their previous agreements. The Leafs\u2019 local deal paid out just over $50 million during the 2024-25 season and will see a boost in their next deal.<\/p>\n

\n\tIn July, Rogers Communications finalized its purchase<\/a> of BCE\u2019s 37.5% stake in Maple Leaf Sports and Entertainment, the parent of the Leafs, NBA\u2019s Toronto Raptors and MLS\u2019 Toronto FC. The MLSE stake was valued at $3.45 billion based on then-exchange rates, implying a valuation of $9 billion for the whole entity.<\/p>\n

\n\tRogers now owns 75% of MLSE and expects to exercise its 2026 option to purchase the remaining 25% of MLSE owned by Larry Tanenbaum via his Kilmer Sports Ventures. The price will be determined by a trio of professional evaluators, according to someone familiar with the agreement. \u201cIt is well defined, and we do anticipate it to be a smooth and productive process,\u201d Rogers executive chairman Edward Rogers told Sportico in July.<\/p>\n

\n\tThe Leafs also benefit from MLSE\u2019s ownership of Scotiabank Arena. The arena, which\u00a0ranked 10th<\/a>\u00a0in\u00a0Billboard\u2019s 2024 look at the world\u2019s highest-grossing arenas, brought in $121.4 million from 79 shows and 1.1 million people in 2024.<\/p>\n<\/p>\n

\n\tGround zero for the rise of the NHL is the Sun Belt, which was once littered with franchises that piled up losses on and off the ice. No more\u2014over the last six years, Dallas, Las Vegas, Miami and Tampa have secured two-thirds of the slots in the Stanley Cup Final, including five titles. Last year\u2019s conference finalists: Carolina, Dallas, Florida and Edmonton.<\/p>\n

\n\tJeff Vinik paid just over $100 million for the Lightning in 2010 and sold a majority stake in the team last year at 16 times his initial investment. The team kicks off the 2025-26 season riding a 417-game sellout streak, the longest active sellout streak in the NHL.<\/p>\n

\n\tThe two biggest gainers in this year\u2019s NHL rankings are in the southeast, as the Carolina Hurricanes and Florida Panthers have converted dominant on-ice results into thriving businesses.<\/p>\n

\n\tAfter back-to-back Stanley Cup titles, Florida\u2019s value is $1.89 billion, up 51% and nine slots to No. 17. Owner Vincent Viola has invested heavily to make the Panthers what its general manager, Bill Zito, calls a \u201cdestination franchise.\u201d<\/p>\n

\n\t\u201cIt took a long time to get us from a half-empty arena handing out tickets to a point of stability,\u201d Mark Zarthar, Panthers chief revenue officer, said in a phone interview. \u201cWe went from being a niche team in the market, to now being a true hockey town with people wearing Panthers gear all over town, Panthers yard signs in their front lawns and bumper stickers and flags.\u201d<\/p>\n

\n\tIn the 2021-22 season, the Panthers won the Presidents Cup, awarded to the NHL team with the most regular-season points. The growth on the business side has been staggering since then. Ticket revenue is up 86%, while sponsorships grew 155%. Net income from non-NHL events at Amerant Bank Arena rose 45%. The team\u2019s profitability also benefits from running gameday operations, such as parking and merchandise sales, in-house.<\/p>\n

\n\tThe business gains, along with hosting 10 playoff games, pushed team revenue to an estimated $290 million, including non-NHL events. Regular-season revenue will jump again this season after the team raised season ticket pricing nearly 40%. More than 90% of fans renewed, and the team established a season ticket waiting list.<\/p>\n

\t\t\t\t\t\t\"\"<\/p>\n

\n\tTom Dundon bought the Hurricanes in early 2018 for $420 million when they were in the process of missing the playoffs for the ninth straight year. Attendance of 13,321 ranked 29th in the league.<\/p>\n

\n\tIn the seven seasons since, the team has made the playoffs, including three trips to the Eastern Conference. Last season, the Canes sold out every game and averaged 18,795 fans, ninth-best in the NHL. The sellout streak is 117 games entering the 2025-26 season, and season ticket revenue rose 227% since Dundon took over. Corporate sponsorship revenue is up 168%, and suite rental revenue has nearly quadrupled.<\/p>\n

\n\tAdd it all up, and Carolina\u2019s value increased 49% since 2024 to $1.92 billion, moving up 10 slots in the rankings.<\/p>\n

\n\tBankers and investors continue to use revenue multiples to value sports teams, and NHL multiples have soared to an average of 8.4\u2014though that still lags the NBA (11.9) and NFL (10.3). The Lightning and Ottawa Senators both sold for roughly seven times revenue, while the Nashville Predators\u2019 sale to Bill Haslam in 2023 was five times revenue, and Fenway Sports Group\u2019s purchase of the Pittsburgh Penguins in 2021 was just 4.5 times revenue.<\/p>\n<\/p>\n

\n\tHockey-related revenue, which the NHL and its players union use to calculate the salary cap, rose only 3% during the 2024-25 season to $6.5 billion, up from $6.3 billion. The league and teams will need to generate new revenue to justify the richer multiples, particularly as teams deal with reductions in local TV rights fees.<\/p>\n

\n\tThe Rangers had their rights fee cut by 18% as part of the debt restructuring<\/a> of its broadcaster, MSG Networks. AT&T got out of the RSN business, leading to lower rights fees for teams, such as the Pittsburgh Penguins. The bankruptcy of Diamond Sports Group, now Main Street Sports Group, sliced TV payouts for most of its eight teams during the 2024-25 season. Teams are leaving the RSN ecosystem for the larger reach of over-the-air, but that is almost always less lucrative. One exception: The Panthers, who had one of the NHL\u2019s smallest RSN deals, moved their games from Bally Sports to Scripps Sports for the 2024-25 season at a slight increase to their rights fee.<\/p>\n

\n\tLocal media represented roughly 10% of NHL revenue last season.<\/p>\n

\n\tTeams will recoup some of the local TV losses with leaguewide TV revenue, which is headed up. In the spring, Rogers and the NHL secured\u00a0a 12-year contract<\/a> extension for the league\u2019s national media rights in Canada. The CA$11 billion deal ($7.7 billion) begins with the 2026-27 season and is worth more than twice as much as the current CA$5.2 billion pact.<\/p>\n

\n\tThe U.S. package with ESPN\/ABC and TNT\/TBS paid out just over $600 million last season. Team owners are expecting a sizable bump on the next deal, which would kick in after the 2027-28 season.<\/p>\n

\n\tNew and renovated arenas are a point of emphasis for teams. The Flames, which play in the NHL\u2019s second-oldest building, will open their new arena in 2027. The Philadelphia Flyers and their parent, Comcast Spectacor, reached a deal this year with the NBA\u2019s 76ers and HBSE to open a new arena together in 2030 via a 50-50 partnership. The Flyers own and operate Xfinity Mobile Arena, the team\u2019s current home, but even with sharing revenue with the NBA team, the Flyers expect their sponsorship revenue to triple when the new building opens.<\/p>\n

\n\tOver the last 12 months, a handful of teams reached deals for major renovations. Capital One Arena, home to the Washington Capitals and Wizards, is undergoing an $800 million upgrade. Anaheim Ducks owner Henry Samueli is privately funding a $1.1 billion renovation of Honda Center ahead of the 2028 LA Summer Olympics. The\u00a0Nashville Predators\u00a0announced a $650 million plan to upgrade Bridgestone Arena over the next five years.<\/p>\n

\n\tRyan Smith solved one of the NHL\u2019s biggest issues last year when he moved the Arizona Coyotes to Utah. The Qualtrics co-founder is now leading a $525 million renovation of the Delta Center that will increase capacity for hockey from 11,131 to roughly 17,000. In August, the San Jose city council approved a deal to renovate the Sharks\u2019 arena and keep the team in the city until 2051. The city will invest $325 million to upgrade the 32-year-old SAP Center, and owner Hasso Plattner will spend at least $100 million on top of the $100 million he\u2019s already invested in the arena over the past decade. The Sharks and the city will also start planning for a new arena by September 2027.<\/p>\n

\n\tThe NHL and its clubs are paying attention to team values, as the league ponders expansion. It is not actively seeking to add any teams right now, but owners got an update on potential expansion at July\u2019s board of governors meeting in Los Angeles.<\/p>\n

\n\tExpansion fees for a new NHL franchise would be at least $2 billion, and the new owners would need to additionally commit at least $1 billion toward an arena if the potential city requires one, as Sportico reported. Six potential groups for expansion were discussed at the meeting. Houston and Atlanta have attracted the most attention as future spots, but Austin, Indianapolis, Kansas City and New Orleans have also expressed interest.<\/p>\n

\n\tCommissioner Gary Bettman<\/a> further discussed expansion when addressing reporters after the meetings. \u201cWe have no pending applications, and we\u2019re not seeking to initiate a formal process at this point,\u201d Bettman said. He added that they talked generally about price, \u201cbut nothing we need to get into [with reporters].\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The NHL spent much of the two decades between 1992 and 2012 battling with its players\u2019 union, which…\n","protected":false},"author":2,"featured_media":194825,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[66],"tags":[26218,3454,385,99,1788],"class_list":["post-194824","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nhl","tag-data-viz","tag-gary-bettman","tag-nhl","tag-sports","tag-toronto-maple-leafs"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/194824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=194824"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/194824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/194825"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=194824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=194824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=194824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}