Breaking down Forbes' NHL team values

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Breaking down Forbes' NHL team values

The company and magazine that reveals and ranks the world’s richest people also calculates the game on ice. On Monday, Forbes released its annual NHL team valuations -- an estimate of the value of each of the 30 teams -- and despite what you’ve seen or read during nasty labor negotiations, there’s money to be made in the NHL.

According to Forbes, 19 teams returned a profit -- from the Maple Leafs at the top, hauling in $48.7 million, to the Colorado Avalanche (17th), turning a modest $300,000. The Flyers climbed up one spot to seventh.

Impressively, the Flyers were still able to turn a $6 million operating income despite the lack of revenue after failing to qualify for the playoffs. The Comcast enterprise is now valued at a half-billion dollars, an increase of 49 percent from 2011-12. Here are some other observations:

Do big UFAs still make cents?
The NHL’s new 10-year CBA effectively ended long-term, front-loaded contracts, allowing more owners to put profits into their pockets. Perhaps Ed Snider and the other board members at Comcast-Spectacor can thank the Nashville Predators for strengthening the Flyers' bottom line. Had Nashville refused to match the offer sheet for defenseman Shea Weber, the Flyers would have been operating in the red after cutting Weber a check for $14 million last summer. No surprise the Minnesota Wild had the largest operating loss of any NHL team at $13.6 million -- the result of signing Zach Parise and Ryan Suter to identical 13-year, $98 million contracts.

Blackhawks are perfect business model
Not only have the ‘Hawks hoisted the Stanley Cup twice in a four-year span, they’ve proven to be one of the league’s most profitable, with an operating income of $25.6 million -- second to the New York Rangers among U.S.-based teams. The Blackhawks are now valued at $625 million -- up 79 percent from the previous year. Owner Rocky Wirtz has lived by the motto “You have to spend money in order to make money,” and within the hockey operations, the Blackhawks have spent wisely. As co-owners of the United Center, the 'Hawks are one of four NHL teams with little or no debt.

Don't count your money by the Cup
The Maple Leafs, Rangers and Canadiens are the Big Three when it comes to current value, revenue and operating income, but that clearly hasn’t translated into success on the ice. The Blueshirts were the last of those teams to win Lord Stanley’s Cup back in 1994, with the Canadiens winning a year earlier. Plus, the wealth is distributed a little more evenly. Last year, Toronto, New York and Montreal accounted for a whopping 83 percent of the league’s income. This year, they accounted for just over half of that amount.

Canadian teams are moneymakers
If the NHL is seriously considering expanding to 32 teams, it’s hard to argue putting two more franchises in Canada. All seven of the Canadian teams rank in the top 16 for the first time in Forbes’ rankings, including three in the top four. Combined, the seven Canadian teams had earnings totaling $129 million -- an average of $18.4 million per team. Comparatively, the 23 U.S.-based franchises collectively had an operating income totaling $81.3 million, or an average of $3.53 million per team. The Winnipeg Jets are now valued at $340 million, or twice what True North Sports & Entertainment paid to bail the franchise out of Atlanta just a few years ago.

Harris right on the money
Sixers owner Josh Harris rescued the New Jersey Devils from an NHL takeover, purchasing the franchise and the lease to the Prudential Center as well as assuming all debt for $320 million back in August. If you thought Harris overpaid, consider that Forbes’ value of the Devils came in at $320 million. However, when evaluating the Devils franchise, a few disturbing aspects stand out. The Dallas Stars (playing in a non-traditional hockey market) and the Buffalo Sabres (playing in one of the league’s smallest markets) are pulling in as much revenue as the Devils, who lost $4.2 million in 2012-13 coming off their run to the Stanley Cup Final the year before. Harris' franchise also has a debt/value ratio of 81 percent, by far the highest of any team in the NHL.

Best of NHL: Henrik Lundqvist's 36 saves leads Rangers past Kings

Best of NHL: Henrik Lundqvist's 36 saves leads Rangers past Kings

NEW YORK -- Henrik Lundqvist stopped 36 shots to lead the New York Rangers over the Los Angeles Kings 3-2 on Monday night.

Brandon Pirri, Matt Puempel and Mats Zuccarello scored to help New York win its third straight since a three-game skid.

Jordan Nolan and Kyle Clifford scored, and Jeff Zatkoff finished with 14 saves for Los Angeles, which has lost four straight and five of seven.

Lundqvist has given up just four goals on 84 shots during the winning streak -- including a 1-0 shutout at Detroit on Monday -- after allowing 20 on 113 shots the previous four games.

The veteran goalie needed to be at his best in this one as the Kings, who last played Saturday across town against the Islanders, seemed a step faster from the start and controlled play for most of the first two periods (see full recap).

Caps top 'Canes to extend point streak to 14 games
WASHINGTON -- Defenseman Dmitry Orlov scored twice and the Washington Capitals kept the offense rolling to beat the Carolina Hurricanes 6-1 on Monday night and extend their point streak to 14 games.

Orlov doubled his goal output for the season and Justin Williams, Evgeny Kuznetsov, T.J. Oshie and Lars Eller also scored for the Capitals, who have won three in a row and haven't lost in regulation since Dec. 27. Washington scored on six of its 25 shots on Cam Ward and handed Carolina its fourth consecutive loss.

Braden Holtby made 25 saves for his 23rd victory of the season. The only goal he allowed came from Jordan Staal on the power play in the first period.

The Capitals allowed the first goal for the first time in 11 games but scored six unanswered to continue their winning ways. They've scored 44 goals in their past eight games (see full recap).

Kadri reaches 20 goals as Leafs beat Flames
TORONTO -- Nazem Kadri scored twice to tie his career high with 20 goals this season, Frederik Andersen stopped 26 shots and the Toronto Maple Leafs ended a two-game winless streak with a 4-0 win over the Calgary Flames on Monday night.

Kadri beat Brian Elliott twice, and Andersen captured his second shutout as a Leaf.

Rookies Mitch Marner and Zach Hyman also scored for Toronto, which sits third in the Atlantic Division with 53 points.

Elliott gave up four goals on 28 shots, dropping his fourth consecutive start.

The Flames have lost three in a row and five of the past six. They are a point up on Vancouver for the final wild-card spot in the Western Conference (see full recap).

NHL Notes: Rangers' Kevin Hayes out 2-3 weeks with lower-body injury

NHL Notes: Rangers' Kevin Hayes out 2-3 weeks with lower-body injury

NEW YORK -- New York Rangers forward Kevin Hayes will miss two to three weeks with a lower-body injury.

The team announced the timeline Monday after Hayes underwent an MRI in the morning. Hayes left the Rangers' game Sunday against the Detroit Red Wings during the second period.

Hayes had seven points in his previous six games and is third on the team in points with 35. The 24-year-old has 13 goals and 22 assists in 47 games this season.

His injury is a major blow to New York, which holds the first wild-card spot in the Eastern Conference. The silver lining for the Rangers is that Hayes will miss fewer games because of the upcoming All-Star break.

Senators: Smith signed to 4-year, $13 million extension
OTTAWA, Ontario -- The Ottawa Senators have signed forward Zack Smith to a four-year contract extension worth $13 million.

The Senators said that the extension goes through the 2020-21 season and carries an annual average value of $3.25 million.

Smith, 28, has 11 goals and 11 assists in 43 games this season and is averaging a career-high 16 minutes, 13 seconds per game.

He set career highs with 25 goals and 36 points in 2015-16. He has 75 goals and 61 assists in 443 games, all with the Senators.

Smith was Ottawa's third-round pick (79th overall) in the 2008 draft.