Flyers drop in Forbes’ list of estimated NHL team valuations, now eighth

For the Flyers and Comcast Spectacor this year, a lack of growth on the ice is correlating with a lack of percentage growth in estimated valuation of the franchise compared to its peers.

Forbes released its annual list of NHL team valuations for 2022 on Wednesday, and the Flyers rank No. 8 at $1.25 billion. That valuation breaks down into four components: sport ($240 million), market ($501 million), stadium ($365 million), and brand ($145 million).

The outlet defines its valuations as “enterprise values (equity plus net debt) and include the economics of each team’s current arena deal but not the value of the real estate itself.” Forbes said it compiles information for its valuations from the teams, sports bankers, team executives, media consultants, and public documents.

This year’s $1.25 billion valuation is just 4% higher than Forbes’ estimate of $1.2 billion last year, which ranked the Flyers in sixth place among the league. That percentage change is tied for the lowest among the league’s 32 teams this year with the Detroit Red Wings ($1.03 billion, up from $990 million last year). According to Forbes, the average NHL team is valued at $1.03 billion, which is up 19% from more than a year ago.

At the top of Forbes’ list is the New York Rangers ($2.2 billion, 10% change from last year), followed by the Toronto Maple Leafs ($2 billion, 11% change), the Montreal Canadiens ($1.85 billion, 16% change), the Chicago Blackhawks ($1.5 billion, 9% change), the Boston Bruins ($1.4 billion, 8% change), the Los Angeles Kings ($1.3 billion, 27% change), and the Edmonton Oilers ($1.275 billion, 16% change).

Since Forbes started releasing its valuations in 2011-12, the Flyers have mostly seen increases on an annual basis. The only exception was the 2019-20, pandemic-impacted season when the Flyers lost $25 million in value (-3% change).

However, there has been a relative slowing in rate of growth on a year-over-year basis since 2012-13. That season, the Flyers’ valuation increased by 32.8% over the previous year to $500 million. Since then, the Flyers have only seen a similar rate growth following the first pandemic-impacted season when their valuation increased 50% in 2020-21 to $1.2 billion. The Flyers’ median percent change in valuation since 2011-12 is 6.4%.