Shocking CNBC NHL Team Valuations Reveal Unexpected Winners and Losers in 2025 Rankings
The average NHL team is now worth $2.2 billion, according to CNBC’s Official NHL Team Valuations, 15% more than last year, as richer national media rights deals drive up franchise values.
In April, the NHL and Rogers Communications agreed to a 12-year national Canadian media rights deal worth $7.79 billion, based on exchange rates as of Nov. 24, that will begin with the 2026-27 season. It is more than twice the amount the league is getting from its existing 12-year deal with Rogers.
The league’s current U.S. national media rights deals with Walt Disney and Warner Brothers Discovery, which are worth a combined annual average of $630 million through the 2027-28 season, are also expected to see a big increase in the next cycle. “The next U.S. rights deal for the NHL should approach a doubling,” said Lee Berke, CEO of LHB Sports, Entertainment & Media, whose firm advises teams and leagues on media deals. “Sports rights move the needle for distributors, subscribers and viewers.”
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