Hockey on the Rise—in Value
Forbes recently released its list of the Most Valuable Franchises in the National Hockey League, and hockey, it seems, is continuing to pay off! The average NHL team currently has an ener Canucks and Chicago Blackhawks. Despite currently being in last place in the newly revamped Metropolitan Division, the value of the New York Islanders, still the only professional sports team on Long Island, increased from $155 million to $195 million. While a strong playoff run last year, together with increased fan expectation for the current year, helped fuel the increase in value of the Islanders, it’s the team’s move to The Barclay’s Center in Brooklyn that has really spurred the increase. Canadian franchises are also prospering, as all seven Canadian teams landed in the top 16 for the first time in the list’s history. While the Islanders 26% change in value was impressive, the Vancouver Canucks increased in value a whopping 105%. For the Islanders, it seems like the move to Brooklyn is already beginning to pay dividends.