The growth of the NHL continues to astound in the sports landscape.



On Wednesday, <a href="https://www.sportico.com/feature/nhl-team-values-ranking-list-1234693065/?tpcc=friedman&amp;utm_source=edit-vip">Sportico released its annual valuations</a> ranking of the 32 franchises across the league. While many of the teams near the top of the list – the&nbsp;<a href="https://theleafsnation.com/" target="_blank">Toronto Maple Leafs</a>,&nbsp;<a href="https://www.dailyfaceoff.com/teams/new-york-rangers/line-combinations" target="_blank">New York Rangers,</a>&nbsp;and&nbsp;<a href="https://www.dailyfaceoff.com/teams/montreal-canadiens/line-combinations" target="_blank">Montreal Canadiens</a>&nbsp;– might not be surprising, the quantity of franchises that are worth big bucks is certainly eye-opening.



According to the report, a total of 12 teams across the NHL are now worth over $2 billion. To the average sports fan, that might not seem like a lot. However, given the league’s status as it emerged from the COVID pandemic, it’s a notable achievement. In 2021, only the Maple Leafs were valued at $2 billion. Two years later, the Rangers and Habs joined the select club. Now, 37.5 percent of the league has hit the mark, with some notable increase in values as well.<div class="injected-ad injected-video" data-nn-ad-tech-injection-count="0" data-nn-ad-tech-max-gap="130" data-nn-ad-tech-current-gap="147"></div>



The Leafs ($4.25 billion), Rangers ($3.65 billion), and Canadiens ($3.3 billion) occupy the top three spots in this year’s rankings, with the <a href="https://www.dailyfaceoff.com/teams/boston-bruins/line-combinations">Boston Bruins</a> ($3 billion) and <a href="https://www.dailyfaceoff.com/teams/los-angeles-kings/line-combinations">Los Angeles Kings</a> ($2.96 billion) rounding out the top five. The <a href="https://www.dailyfaceoff.com/teams/washington-capitals/line-combinations">Washington Capitals</a>, currently sitting ninth on the list, have broken into the $2 billion club after a 24% value increase from last season, now worth $2.3 billion. The <a href="https://www.dailyfaceoff.com/teams/detroit-red-wings/line-combinations">Detroit Red Wings</a> ($2.11 billion), <a href="https://www.dailyfaceoff.com/teams/new-jersey-devils/line-combinations">New Jersey Devils</a> ($2.06 billion) and <a href="https://www.dailyfaceoff.com/teams/vegas-golden-knights/line-combinations">Vegas Golden Knights</a> ($2.02 billion) are also bringing in the bacon.



The biggest mover over the past few years has been the <a href="https://www.dailyfaceoff.com/teams/carolina-hurricanes/line-combinations">Carolina Hurricanes</a>. Tommy Dundon’s team shot up 10 spots from last year’s ranking, having a reported growth of 49%. It’s impressive because it was just four years ago that the franchise was worth $545 million, sitting 28th in the NHL. The Hurricanes, who sit 15th at $1.92 billion, will be in the $2 billion club soon if they continue to rise at its current pace.<div class="injected-ad" data-nn-ad-tech-injection-count="1" data-nn-ad-tech-max-gap="130" data-nn-ad-tech-current-gap="164"></div>



The <a href="https://www.dailyfaceoff.com/teams/columbus-blue-jackets/line-combinations">Columbus Blue Jackets</a> are at the bottom of the rankings, worth $1.3 billion, despite a 23% increase in value from last year. The <a href="https://www.dailyfaceoff.com/teams/ottawa-senators/line-combinations">Ottawa Senators</a> ($1.34 billion) and <a href="https://jetsnation.ca/">Winnipeg Jets</a> ($1.33 billion) sit just ahead of them.



Sportico determines a team’s total value by the sum of the enterprise value of a franchise, combined with team-related businesses and real estate holdings. None of the value includes rent from non-hockey operations or other licensing fees paid by non-hockey third parties.