Forbes Says Rangers Are Again NHL's Most Valuable Team at $1.5 Billion

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.

NEW YORK (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.

• Photo: Rangers Players Ride Subway to Central Park Practice

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.

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