Devils, Islanders Outside Top 20

NEW YORK (CBSNewYork/AP) — The New York Rangers are worth an NHL-high $1.5 billion as team values continue to rise, according to the latest estimate by Forbes.

In its annual list of franchise valuations, Forbes says the average NHL team is now worth $594 million, up 15 percent from a year ago. It comes on the heels of Bill Foley’s group paying $500 million for the expansion Vegas Golden Knights, who come in 14th among 31 teams.

MORE: Hartnett: With String Of Division Games Ahead, Rangers Look To Gain Ground

The Rangers lead the NHL for the third consecutive year. After the Rangers, the Toronto Maple Leafs are second at $1.4 billion, the Montreal Canadiens third at $1.25 billion, and the Chicago Blackhawks fourth at $1 billion.

gettyimages 878696760 Rangers, Worth $1.5 Billion, Again Lead Forbes NHL Team Value Rankings

New York Rangers’ Mats Zuccarello celebrates his goal at 37 seconds of overtime against the Detroit Red Wings at Madison Square Garden on November 24, 2017. (Photo by Bruce Bennett/Getty Images)

The back-to-back Stanley Cup-champion Pittsburgh Penguins come in 10th at $650 million. The Arizona Coyotes are last at $300 million.

The Devils, meanwhile, moved ahead of the Islanders in the rankings. New Jersey is 21st, up one spot from last year. Its value has risen 25 percent since 2016, up to $400 million.

The Islanders fell from 18th in the 2016 survey to 22nd this year. They are worth an estimated at $395 million, up 3 percent from a  year ago.

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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