The Toronto Maple Leafs are still the NHL’s financial kingpins.
Sportico’s 2026 franchise valuations have the Leafs on top for the sixth straight year, with Toronto checked in at a massive $4.88 billion. That leaves the Maple Leafs comfortably ahead of the New York Rangers, who sit second at $4.15 billion, and the Montreal Canadiens, who land third at $3.88 billion.
Those three clubs have clearly separated themselves from the pack at the top of the league’s valuation ladder. Toronto’s number is the headline grabber, but the gap to the Rangers and Canadiens shows just how far the Leafs have pulled away as one of hockey’s most recognizable brands.
Sportico said it builds its valuations from team revenue, public information and confidential financial information supplied by anonymous sources with extensive knowledge of the league. The figures are then vetted by team owners, financial and operating officers, media personnel and former team executives.
There was also movement lower in the rankings, and some of it was eye-opening. The New York Islanders posted the biggest year-over-year jump, climbing 40% for a gain of $770 million. The New Jersey Devils weren’t far behind with a 32% increase worth $660 million, and the Calgary Flames rose 23%, adding $420 million to their valuation.
At the bottom of the list, the Columbus Blue Jackets are the league’s least valuable franchise at $1.5 billion. Just above them are the Winnipeg Jets at $1.52 billion, the Buffalo Sabres at $1.53 billion and the Ottawa Senators at $1.55 billion.
The spread from top to bottom is still enormous, but the biggest risers show the league’s overall franchise values continue to climb. For Toronto, though, the story is the same as it has been for years: nobody in the NHL has a richer team off the ice.
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Islanders Face A Tough Darche Test Fans Can Already Feel
Mathieu Darche has made it clear he wants to chase meaningful upgrades for the Islanders, but he also has no interest in gutting the very system he is trying to build. That puts the general manager in a familiar spot for a team still trying to balance a push for help now with the need to protect its future, especially when the roster does not feature an excess of young, inexpensive NHL pieces that can headline trade talks.
So any move the Islanders make has to thread a narrow needle: aggressive enough to improve the team, but careful enough not to drain the prospect pool or future flexibility. Darches stance points to a patient approach, one that values organizational health as much as short-term impact, and it leaves the club facing a difficult market where the best targets usually come with the steepest prices. [Read more 🡒]