While the team on the ice in Edmonton has struggled, off-ice, the team got a nice bump up in their valuation.
In the latest appraisal by Sportico of NHL franchises, the franchise value of the Edmonton Oilers jumped a whopping 51% to $2.4B in their 2024 report.
That is some serious value.
NHL business is booming
The NHL as a whole saw revenue grow dramatically, with every single team reporting more than 20% growth. The Oilers’ 51% growth was the second highest after Utah’s, who saw their value grow largely by relocating.
This was another year away removed from the COVID-19 pandemic, which hit the league’s revenue hard. However, teams saw overall increased revenue which led to the increasing salary cap, new TV deals and agreements, and more contributed to this across the league.
Every single team reported a value of greater than $1B, which is massive for the overall health of the league.
The Oilers’ value
The Oilers remain one of the league’s most valuable franchises and jumped up a spot this year to seventh in the league. They are just behind the Chicago Blackhawks, who dropped two spots this year, but moved ahead of the Philadelphia Flyers, who sit eighth.
The team leads the league in revenue this season, jumping up from $281M to $357M year-over-year. They beat out the New York Ranger ($352M) and Toronto Maple Leafs ($346M) for this spot. This revenue comes from ticket sales, concession, merchandise sales, and more, and was likely augmented by last year’s long playoff run.
Interestingly, the Oilers are second in the rankings by related business revenue, which is derived largely from their ownership of large parts of the ICE District. This real estate portfolio and related rental revenue is a major boost to the organization, and is part of a larger trend across major sports teams. Only the Los Angeles Kings are ahead in this respect.
Among the seven Canadian teams, the Oilers rank third on the list. Here is how the Canadian franchises stack up for 2024.
| Canadian Team | Value | League Rank |
|---|---|---|
| Toronto Maple Leafs | $3.66B | 1st |
| Montreal Canadiens | $2.93B | 3rd |
| Edmonton Oilers | $2.40B | 7th |
| Vancouver Canucks | $1.73B | 13th |
| Calgary Flames | $1.58B | 189th |
| Ottawa Senators | $1.14B | 29th |
| Winnipeg Jets | $1.1B | 31st |
The Oilers’ future value
Hopefully the Oilers go on another long run that ends in a Stanley Cup victory, but if not, the revenue picture for the team will likely go down a touch next season. That being said, league valuations are expected to continue growing year-over-year, and this will likely cushion any drop in annual revenue.
Expect the pretty picture to continue for the team.
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