NEW YORK, N.Y. - The New York Rangers are the most valuable NHL franchise at $1.2 billion, taking the top spot on the Forbes list for first time since 2004.
The magazine said Tuesday that Montreal is second at $1.18 billion, followed by Toronto at $1.15 billion. The Maple Leafs had been the most valuable team since 2005, but they've reached the playoffs only once since 2006 and their 13-year home sellout streak ended in March.
Chicago, winner of three of the last six Stanley Cups, is worth $925 million. Boston, at $750 million, rounds out the top five. Washington is last on the list at $565 million.
The Rangers reached the finals of Stanley Cup playoffs in 2014 and semifinals in 2015, shortly after Madison Square Garden underwent a $1 billion renovation.