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.

Top NHL draft prospects Nolan Patrick, Nico Hischier get CHL awards

Top NHL draft prospects Nolan Patrick, Nico Hischier get CHL awards

Brandon center Nolan Patrick and Halifax center Nico Hischier, the projected top two picks in the 2017 NHL draft, on Saturday afternoon added some CHL hardware to their trophy case.

Patrick won the Sherwin-Williams Top Prospect Award, beating out Hischier and Windsor's Gabriel Vilardi, while Hischier edged Swift Current's Aleksi Heponiemi and Guelph's Ryan Merkley for the CCM Rookie of the Year Award.

Injuries forced Patrick to play just 33 games this season, but he still produced at a point-per-game pace for Brandon. He finished with 46 points (20 goals, 26 assists).

Hischier scored 38 goals and 86 points in 57 games with the Mooseheads, his first season in the QMJHL after coming over from Switzerland.

The Flyers have the No. 2 overall pick. If the draft goes as projected, the Flyers will come away with either Patrick or Hischier, whoever the New Jersey Devils do not pick.

The 2017 NHL draft is June 23-24 in Chicago.

Missing history
Flyers prospect Carter Hart had a chance to become the first goalie in CHL history to win the Vaughn CHL Goaltender of the Year Award twice, but this year's award went elsewhere.

Owen Sound goalie Michael McNiven on Saturday afternoon took home the 2016-17 CHL Goaltender of the Year Award. McNiven was 41-9-4 for the Attack this season. He posted a 2.30 goals-against average and .915 save percentage with six shutouts.

McNiven led the Ontario Hockey League in save percentage, and his six shutouts were tied with Windsor's Michael DiPietro for the league lead. His 41 wins were tops in the OHL.

Hart, 18, posted a 32-11-6 record in 54 games with the Everett Silvertips in 2016-17. His 1.99 goals-against average, .927 save percentage and nine shutouts were all ranked No. 1 in the WHL.

Despite missing out on the CHL Goaltender of the Year Award this year, Hart previously did win the Del Wilson Memorial Trophy as the WHL's Goaltender of the Year for the second straight season. He was twice named the Vaughn CHL Goaltender of the Week and had a shutout streak of 193 minutes and 48 seconds during the regular season.

Hart was one of three second-round picks by the Flyers in the 2016 NHL draft.

End to End: Who will Flyers protect, lose in expansion draft?

End to End: Who will Flyers protect, lose in expansion draft?

Throughout the offseason, we'll ask questions about the Flyers to our resident hockey analysts and see what they have to say.

Going End to End today are CSNPhilly.com producers/reporters Tom Dougherty, Jordan Hall and Greg Paone.

The topic: The expansion draft, who to protect and best guesses at Vegas' selection.

Dougherty
We have and will continue to discuss in detail the entry draft, but we haven't talked much about the June 21 expansion draft. That's what we're doing today.

The expansion draft will affect the Flyers' plans this summer because they will be losing a player to Vegas, but the impact will be a minimum. They will not lose any core pieces.

How the expansion draft works: Teams have two options in protecting players. They can either protect seven forwards, three defensemen and one goalie, or eight skaters and one goalie. The expectation is the Flyers will protect seven forwards, three D-men and a goalie.

There are six forwards and two defensemen who are obvious protections: Claude Giroux, Wayne Simmonds, Jakub Voracek, Sean Couturier, Brayden Schenn, Valtteri Filppula, Shayne Gostisbehere and Radko Gudas. Ivan Provorov and Travis Konecny are exempt.

Flyers general manager Ron Hextall will have decisions to make on who the seventh forward and third defenseman he protects. Then there is the goalie protection.

That leaves forwards Pierre-Edouard Bellemare, Nick Cousins, Taylor Leier, Scott Laughton, Michael Raffl, Matt Read, Jordan Weal and Dale Weise; and defensemen Andrew MacDonald and Brandon Manning.

Losing any of those six forwards would not be major blows to the Flyers. Now on the blue line, it gets interesting. My prediction is that the Flyers will choose to protect Manning with the hope Vegas takes MacDonald's contract.

Probably isn't going to happen.

Of the goalies, I don't think Vegas will have any interest in Anthony Stolarz, especially since he tore his right MCL in April. So that should cut the question here. That would mean the Flyers protect Michal Neuvirth, whom they signed to a two-year extension.

So what is my best guess at who Vegas plucks from the Flyers?

I think it will be a toss-up between Laughton and Raffl. I suspect the Flyers will re-sign Weal before the draft and then protect him, or have a verbal understanding they'll sign him after the expansion draft. Both parties appeared interested in him coming back.

My pick? Let's go with Laughton, a former first-round pick who turns 23 on Tuesday.

Laughton hasn't panned out as the Flyers hoped. He spent last season in Lehigh Valley and both Leier and Weal earned call-ups over him. I think that is a telling sign here.

So I'm predicting Laughton going to Vegas, where a change of scenery helps him out and the Golden Knights get a young forward that can slot into a third- or fourth-line role and still has upside.

Hall
There's a lot to the expansion draft — tons of possibilities and things can still change before June 21 that could impact the Flyers' decisions.

Albeit unlikely, Steve Mason could re-sign, which would obviously affect the Flyers' protection plan at goalie. Assuming that doesn't happen, I think the Flyers protect Neuvirth, especially considering Stolarz's health is in question this offseason and he may not be the true goalie of the future. Stolarz is also a pending restricted free agent, so he'll have to receive his qualifying offer from the Flyers before the expansion draft.

Now, let's say the Flyers go with the seven-forward, three-defensemen approach.

The blueliners are pretty clear: Gostisbehere and Gudas will be protected, as it comes down to MacDonald and Manning. I feel the organization thinks a bit more of MacDonald and his versatility compared to Manning, whose two-year deal last summer was likely strategic on the Flyers' part in planning for this expansion draft.

As for the forwards, Giroux, Voracek, Simmonds, Schenn, Filppula and Couturier are staying put. I believe Weal will be re-signed and protected.

Ultimately, I could see Raffl being Vegas' choice. At 28 years old, he's not super young or inexperienced, but also not old by any means, and the winger can play all four lines because of a well-rounded game that complements different styles.

Raffl's injuries last season (abdominal, knee) may cause red flags. At the same time, the Golden Knights should be intrigued by the two seasons prior in which Raffl played all 82 games of 2015-16 (and was a plus-9) after scoring a career-high 21 goals in 2014-15.

A loss of Raffl wouldn't be ideal, but not as damaging given the Flyers appear to be gaining more depth and youth at forward.

Paone
June 21's expansion draft will be the biggest wild card of the NHL summer. And that's not just some corny pun because it involves an expansion team from Vegas.

It'll be the first piece of player movement during the offseason, coming before the entry draft and free agency. But since it will be the first piece of player movement of the offseason, it will help mold how the Flyers and the rest of the teams around the league approach their summers.

None of the Flyers' "big guns" will be on the move and my gut tells me the Flyers will be protecting Neuvirth as they want him to shoulder the starting load this coming season.

We don't know exactly what Vegas is looking for in the expansion draft because general manager George McPhee is keeping that close to the vest. But if I'm the Golden Knights' GM, youth is at the top of my wish list.

That leaves three Flyers to stick out in my mind — Weal (25), Cousins (turns 24 in June) and Laughton (turns 23 on Tuesday).

After the sparkplug Weal was down the stretch with eight goals and four assists in 23 games, the Flyers should reach a new deal with the UFA and keep him in Philadelphia.

That leaves Cousins and Laughton.

My instinct tells me Vegas will gamble (sorry, still getting used to this whole Vegas having a team thing) on Laughton, a former first-round pick.

There's a reason he was a first-rounder in 2012. The guy can play, even if he hasn't shown it consistently in Philadelphia. But remember he's been yanked back and forth between the AHL and NHL on numerous occasions and when he's been with the big club, he's either been in the press box as a scratch or been tossed back and forth between center and wing. That constant instability in both level and position can be detrimental to a young player. Vegas would give Laughton a fresh start, a fresh home and some fresh stability.

Plus, I know there are only so many protections to go around, but Cousins is a guy the Flyers should want to keep around. Just 16 points (six points, 10 assists) in 60 games isn't good enough offensively, but not many Flyers were great offensively last season. Everyone needs to be better there. But Cousins has that pest intangible that can be so effective, especially in the rugged Metropolitan Division, where basically every game is a rivalry game. It's a good quality to have.