Carolina Hurricanes, Florida Panthers Biggest Winners Among 2025’s Most Valuable NHL Teams

The 2025 NHL Franchise Valuation Rankings emphasize the league’s wealthier-than-ever status. The least valued franchise, the Columbus Blue Jackets, is worth $1.3 billion. Over recent years, the sport has gained new fans worldwide, increasing popularity and viewership. Although unrelated to the franchise value, NHL players, too, are earning more than ever. Kirill Kaprizov and Leon Draisaitl’s contracts were unthinkable a few years ago.
Some teams, however, have fared better than the rest. After two successive Stanley Cup wins, the Florida Panthers’ worth has increased significantly over the past year. Besides the Panthers, what other NHL teams have registered a remarkable increase in value?
Florida Panthers Among NHL Teams That Won Big Time
When Matthew Tkachuk boldly declared that the Panthers are on their way to becoming a dynasty, he probably wasn’t exaggerating. The team’s admirable chemistry and an enviable, well-rounded roster are a few reasons they are the defending Stanley Cup champions. Moreover, the Panthers’ wins are not just limited to their exploits on ice.
The South Florida team has moved up nine spots and registered a 51% increase in value. The Panthers are currently worth $1.89 billion and ranked 17th.
The jump is extraordinary, and in his recent piece for The Athletic, James Mirtle helped put it in perspective: “The Panthers’ single-year valuation increase is the equivalent of $638 million, more than the Vegas Golden Knights and Seattle Kraken paid in total for expansion franchises in 2017 and 2021.”
On that note, the Vegas Golden Knights have retained the 12th rank with a value of $2.02 billion, and the Seattle Kraken has slid one position to rank 22nd. The Kraken is worth $1.71 billion.
However, the Panthers are not the only team that has massively succeeded. The Carolina Hurricanes have not just made major offseason moves by signing Nikolaj Ehlers; the team continues to chase NHL glory, having moved up 10 spots in the franchise valuation rankings.
The Canes’ worth has increased by a whopping 49% and the outfit is currently worth $1.92 billion, ranking 15th. Among other teams that have gained significantly over a mere year are the Anaheim Ducks. The Ducks have climbed up two spots and increased their worth by 28%.
Moreover, even the least-valued teams consistently earn enough revenue for the player payroll. “Aside from last-place Columbus, the next six lowest revenue generating clubs — Buffalo, Utah, Ottawa, San Jose, Anaheim and Winnipeg — still made between $174 million and $183 million last season,” wrote Mirtle.
At the 32nd rank, the Columbus Blue Jackets remain the least valued NHL franchise, but there is also a bright side to this. The team is worth $1.3 billion, demonstrating the league’s rising status. The Blue Jackets’ value has also increased by 23%: the highest among the bottom five teams.