December 5, 2017 / 6:38 PM / 9 months ago

Rangers extend reign as NHL's most valuable team-Forbes

(Reuters) - The New York Rangers, worth $1.5 billion, are the most valuable franchise in the National Hockey League for a third consecutive year, according to the annual list published by business magazine Forbes on Tuesday.

Dec 1, 2017; New York, NY, USA; New York Rangers center Paul Carey (28) is congratulated after scoring a goal against the Carolina Hurricanes during the third period at Madison Square Garden. Mandatory Credit: Andy Marlin-USA TODAY Sports

The Rangers are worth nearly triple the average of the NHL’s 31 teams, which Forbes said rose 15 percent to $594 million due in part to the $500 million expansion fee that was paid by the expansion Vegas Golden Knights, who were 14th on the list.

Nov 30, 2017; Edmonton, Alberta, CAN; Toronto Maple Leafs forward Matt Martin (15) celebrates a first period goal against the Edmonton Oilers at Rogers Place. Mandatory Credit: Perry Nelson-USA TODAY Sports

The Toronto Maple Leafs, who were rated the most valuable franchise from 2005-14, moved up a spot from last year to No 2 with a value of $1.4 billion.

The Montreal Canadiens ($1.25 billion), Chicago Blackhawks ($1 billion) and Boston Bruins ($890 million) rounded out the top five while the reigning back-to-back Stanley Cup champions Pittsburgh Penguins ($650 million) were 10th on the list.

According to Forbes, the big market NHL teams have received a boost to their values from what they called the ever-increasing premium being paid for teams in all the major sports.

For the complete list visit www.Forbes.com/NHL-valuations.

Reporting by Frank Pingue in Toronto; Editing by Christian Radnedge

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